Zacks: Brokerages Expect Apollo Investment Corp. (NASDAQ:AINV) Will Post Earnings of $0.46 Per Share

Equities research analysts predict that Apollo Investment Corp. (NASDAQ:AINV) will post earnings of $0.46 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Apollo Investment’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.48. Apollo Investment reported earnings of $0.45 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The business is scheduled to issue its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Apollo Investment will report full-year earnings of $1.82 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.94. For the next year, analysts forecast that the firm will post earnings of $1.89 per share, with EPS estimates ranging from $1.80 to $2.06. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Apollo Investment.

Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Thursday, May 16th. The asset manager reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Apollo Investment had a return on equity of 9.48% and a net margin of 28.20%. The company had revenue of $61.41 million for the quarter, compared to analyst estimates of $64.29 million. During the same quarter last year, the company posted $0.15 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year.

AINV has been the topic of a number of research reports. ValuEngine downgraded Apollo Investment from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. BidaskClub raised Apollo Investment from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. TheStreet upgraded shares of Apollo Investment from a “c” rating to a “b-” rating in a report on Friday, June 7th. Finally, National Securities reiterated a “neutral” rating and set a $18.00 target price on shares of Apollo Investment in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.40.

Several hedge funds have recently added to or reduced their stakes in AINV. Kore Private Wealth LLC purchased a new position in shares of Apollo Investment during the first quarter valued at approximately $32,000. Whittier Trust Co. lifted its holdings in shares of Apollo Investment by 43.7% during the first quarter. Whittier Trust Co. now owns 2,192 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 667 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Apollo Investment during the first quarter valued at approximately $35,000. PNC Financial Services Group Inc. lifted its holdings in shares of Apollo Investment by 213.1% during the first quarter. PNC Financial Services Group Inc. now owns 2,492 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 1,696 shares during the last quarter. Finally, Advisory Alpha LLC purchased a new position in shares of Apollo Investment during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 41.55% of the company’s stock.

Shares of AINV traded down $0.08 during midday trading on Friday, hitting $16.29. The company’s stock had a trading volume of 295,143 shares, compared to its average volume of 330,656. 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 0.86, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 8.99 and a beta of 1.13.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $1.80 annualized dividend and a dividend yield of 11.05%. Apollo Investment’s payout ratio is 99.45%.

About Apollo Investment

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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