Zacks: Brokerages Expect Apollo Investment Corp. (AINV) Will Post Earnings of $0.45 Per Share

Wall Street analysts expect Apollo Investment Corp. (NASDAQ:AINV) to post $0.45 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Apollo Investment’s earnings, with estimates ranging from $0.43 to $0.46. Apollo Investment also reported earnings per share of $0.45 in the same quarter last year. The company is scheduled to report its next earnings results after the market closes on Thursday, May 16th.

According to Zacks, analysts expect that Apollo Investment will report full year earnings of $1.80 per share for the current year, with EPS estimates ranging from $1.79 to $1.81. For the next financial year, analysts forecast that the company will post earnings of $1.88 per share, with EPS estimates ranging from $1.81 to $1.94. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Apollo Investment.

AINV has been the topic of several recent analyst reports. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. National Securities restated a “neutral” rating and issued a $18.00 target price on shares of Apollo Investment in a report on Friday, February 8th. BidaskClub cut shares of Apollo Investment from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Citigroup upgraded shares of Apollo Investment from a “sell” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $14.00 in a report on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Apollo Investment has an average rating of “Hold” and a consensus target price of $17.40.

Hedge funds have recently made changes to their positions in the stock. Kore Private Wealth LLC purchased a new stake in Apollo Investment in the first quarter worth $32,000. Whittier Trust Co. lifted its stake in Apollo Investment by 43.7% in the first quarter. Whittier Trust Co. now owns 2,192 shares of the asset manager’s stock worth $33,000 after acquiring an additional 667 shares during the period. Golden State Wealth Management LLC purchased a new stake in Apollo Investment in the first quarter worth $35,000. Advisory Alpha LLC purchased a new stake in Apollo Investment in the first quarter worth $38,000. Finally, PNC Financial Services Group Inc. lifted its stake in Apollo Investment by 213.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,492 shares of the asset manager’s stock worth $38,000 after acquiring an additional 1,696 shares during the period. 45.30% of the stock is owned by institutional investors.

NASDAQ AINV traded up $0.15 on Thursday, reaching $15.73. 205,268 shares of the company’s stock traded hands, compared to its average volume of 343,846. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73. Apollo Investment has a 12 month low of $12.05 and a 12 month high of $18.00. The stock has a market capitalization of $1.09 billion, a P/E ratio of 8.60, a PEG ratio of 1.65 and a beta of 1.22.

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

The company also recently announced a dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a $0.35 dividend. The ex-dividend date was Monday, April 29th. Apollo Investment’s dividend payout ratio is 98.36%.

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.

See Also: What is Net Asset Value (NAV)?

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Earnings History and Estimates for Apollo Investment (NASDAQ:AINV)

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