Equities research analysts forecast that Apollo Investment Corp. (NASDAQ:AINV) will report $68.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Apollo Investment’s earnings, with estimates ranging from $67.47 million to $69.14 million. Apollo Investment reported sales of $66.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The business is expected to announce its next earnings results after the market closes on Tuesday, November 5th.
On average, analysts expect that Apollo Investment will report full-year sales of $275.88 million for the current fiscal year, with estimates ranging from $273.00 million to $277.29 million. For the next year, analysts anticipate that the business will report sales of $292.23 million, with estimates ranging from $282.10 million to $298.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Apollo Investment.
Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Tuesday, August 6th. The asset manager reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Apollo Investment had a net margin of 31.99% and a return on equity of 9.88%. The business had revenue of $66.52 million during the quarter, compared to analysts’ expectations of $65.60 million. During the same quarter in the previous year, the company earned $0.45 EPS.
A number of research firms have commented on AINV. Wells Fargo & Co cut shares of Apollo Investment from an “outperform” rating to a “market perform” rating and set a $17.00 price target for the company. in a research note on Wednesday, August 7th. Compass Point cut shares of Apollo Investment from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Monday, September 16th. Zacks Investment Research cut shares of Apollo Investment from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, BidaskClub raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.14.
AINV stock traded up $0.09 during midday trading on Friday, reaching $15.98. The company had a trading volume of 26,782 shares, compared to its average volume of 341,902. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.13 and a quick ratio of 1.13. Apollo Investment has a 1 year low of $12.05 and a 1 year high of $17.00. The company has a market capitalization of $1.09 billion, a P/E ratio of 8.83, a P/E/G ratio of 8.80 and a beta of 1.09. The firm has a 50-day moving average price of $16.12 and a 200-day moving average price of $16.01.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Friday, September 20th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.26%. Apollo Investment’s payout ratio is 99.45%.
Several institutional investors and hedge funds have recently made changes to their positions in AINV. DNB Asset Management AS lifted its holdings in shares of Apollo Investment by 2.1% in the 2nd quarter. DNB Asset Management AS now owns 64,497 shares of the asset manager’s stock worth $1,019,000 after acquiring an additional 1,300 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of Apollo Investment in the 2nd quarter worth approximately $36,000. Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of Apollo Investment in the 2nd quarter worth approximately $174,000. Commonwealth Equity Services LLC lifted its holdings in shares of Apollo Investment by 4.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 98,514 shares of the asset manager’s stock worth $1,556,000 after acquiring an additional 3,976 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in shares of Apollo Investment in the 2nd quarter worth approximately $849,000. Hedge funds and other institutional investors own 41.20% 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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