Zacks: Analysts Anticipate Apollo Investment Corp. (AINV) Will Post Quarterly Sales of $65.03 Million

Equities analysts predict that Apollo Investment Corp. (NASDAQ:AINV) will report sales of $65.03 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Apollo Investment’s earnings. The lowest sales estimate is $62.22 million and the highest is $68.73 million. Apollo Investment reported sales of $61.49 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The company is scheduled to report its next earnings report on Friday, May 17th.

According to Zacks, analysts expect that Apollo Investment will report full year sales of $259.26 million for the current fiscal year, with estimates ranging from $255.89 million to $264.34 million. For the next fiscal year, analysts forecast that the company will report sales of $286.35 million, with estimates ranging from $270.84 million to $311.34 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Apollo Investment.

Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The business had revenue of $64.00 million for the quarter, compared to the consensus estimate of $64.31 million. Apollo Investment had a return on equity of 9.25% and a net margin of 23.80%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share.

A number of research firms recently commented on AINV. BidaskClub lowered Apollo Investment from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. National Securities restated a “neutral” rating and set a $18.00 price target on shares of Apollo Investment in a research report on Friday, February 8th. ValuEngine upgraded Apollo Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Citigroup upgraded Apollo Investment from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $14.00 in a research report on Tuesday, January 22nd. Finally, Barclays set a $16.00 price target on Apollo Investment and gave the stock a “hold” rating in a research report on Friday, December 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Apollo Investment has an average rating of “Hold” and a consensus price target of $17.50.

NASDAQ AINV traded up $0.07 during trading hours on Monday, reaching $15.70. 508,050 shares of the company’s stock were exchanged, compared to its average volume of 383,641. The firm has a market cap of $1.08 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 1.74 and a beta of 1.23. Apollo Investment has a one year low of $12.05 and a one year high of $18.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Thursday, March 21st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 11.46%. This is a positive change from Apollo Investment’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 20th. Apollo Investment’s dividend payout ratio (DPR) is presently 98.36%.

Apollo Investment declared that its Board of Directors has approved a share buyback plan on Wednesday, February 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in AINV. Patriot Financial Group Insurance Agency LLC bought a new position in Apollo Investment in the 4th quarter valued at $87,000. Pearl River Capital LLC bought a new position in Apollo Investment in the 4th quarter valued at $94,000. FNY Investment Advisers LLC acquired a new position in shares of Apollo Investment in the 4th quarter valued at $104,000. Caxton Associates LP acquired a new position in shares of Apollo Investment in the 3rd quarter valued at $108,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Apollo Investment in the 3rd quarter valued at $116,000. Hedge funds and other institutional investors own 45.03% of the company’s stock.

Apollo Investment Company Profile

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.

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