Portman Ridge Finance (NASDAQ:PTMN) Issues Quarterly Earnings Results

Portman Ridge Finance (NASDAQ:PTMN) released its earnings results on Thursday. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01, Zacks reports. Portman Ridge Finance had a return on equity of 15.21% and a net margin of 21.81%. The company had revenue of $16.34 million during the quarter, compared to analyst estimates of $16.68 million. During the same quarter in the prior year, the company earned $0.83 earnings per share.

Portman Ridge Finance Stock Down 2.4 %

Shares of PTMN traded down $0.46 during midday trading on Friday, reaching $18.65. 77,732 shares of the stock were exchanged, compared to its average volume of 39,022. The company has a market cap of $173.56 million, a price-to-earnings ratio of 11.17 and a beta of 1.01. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.37. Portman Ridge Finance has a 12-month low of $16.27 and a 12-month high of $21.03. The firm has a 50 day simple moving average of $19.44 and a 200-day simple moving average of $19.22.

Portman Ridge Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.76 annualized dividend and a dividend yield of 14.80%. Portman Ridge Finance’s dividend payout ratio is 165.27%.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.