Apollo Investment Corp. (NASDAQ:AINV) – Analysts at SunTrust Banks upped their Q2 2019 earnings per share (EPS) estimates for Apollo Investment in a research report issued on Thursday. SunTrust Banks analyst D. Mewhirter now forecasts that the asset manager will earn $0.16 per share for the quarter, up from their previous estimate of $0.15. SunTrust Banks has a “Buy” rating and a $6.50 price target on the stock. SunTrust Banks also issued estimates for Apollo Investment’s Q3 2019 earnings at $0.16 EPS.
Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Apollo Investment had a return on equity of 9.45% and a net margin of 28.18%. The business had revenue of $64.75 million for the quarter, compared to the consensus estimate of $65.94 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Apollo Investment’s revenue for the quarter was down 4.9% compared to the same quarter last year.
Other research analysts also recently issued research reports about the company. National Securities reiterated a “neutral” rating and set a $6.00 price target on shares of Apollo Investment in a report on Thursday. Wells Fargo & Co upgraded Apollo Investment from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research note on Thursday. TheStreet downgraded Apollo Investment from a “b-” rating to a “c” rating in a research note on Wednesday. Compass Point upgraded Apollo Investment from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Finally, BidaskClub upgraded Apollo Investment from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Apollo Investment presently has a consensus rating of “Hold” and an average price target of $6.38.
Shares of Apollo Investment (NASDAQ:AINV) traded down $0.18 during mid-day trading on Friday, hitting $5.30. The stock had a trading volume of 2,193,072 shares, compared to its average volume of 1,070,000. Apollo Investment has a twelve month low of $5.30 and a twelve month high of $6.82. The company has a quick ratio of 0.61, a current ratio of 0.43 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1,120.00, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.76 and a beta of 0.88.
A number of hedge funds and other institutional investors have recently modified their holdings of AINV. Rhumbline Advisers grew its stake in Apollo Investment by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 58 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Apollo Investment by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 24,632 shares of the asset manager’s stock worth $158,000 after buying an additional 3,500 shares during the last quarter. Northern Trust Corp lifted its position in shares of Apollo Investment by 13.3% in the second quarter. Northern Trust Corp now owns 122,694 shares of the asset manager’s stock worth $784,000 after buying an additional 14,404 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Apollo Investment by 10.2% in the second quarter. California Public Employees Retirement System now owns 485,300 shares of the asset manager’s stock worth $3,101,000 after buying an additional 44,900 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its position in shares of Apollo Investment by 55.6% in the second quarter. Virtu KCG Holdings LLC now owns 52,694 shares of the asset manager’s stock worth $337,000 after buying an additional 18,824 shares during the last quarter. Hedge funds and other institutional investors own 46.51% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Tuesday, March 27th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 26th. This represents a $0.60 dividend on an annualized basis and a yield of 11.32%. Apollo Investment’s dividend payout ratio (DPR) is currently 176.47%.
Apollo Investment Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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