Portman Ridge Finance (NASDAQ:BCIC) Releases Earnings Results, Beats Expectations By $0.10 EPS

Portman Ridge Finance (NASDAQ:BCIC) released its quarterly earnings data on Wednesday. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.10, Zacks reports. Portman Ridge Finance had a negative net margin of 5.72% and a positive return on equity of 14.09%.

Portman Ridge Finance Stock Down 4.6%

Shares of BCIC traded down $0.32 on Wednesday, hitting $6.57. The company’s stock had a trading volume of 116,307 shares, compared to its average volume of 75,529. The firm’s fifty day moving average price is $6.71 and its 200-day moving average price is $7.97. Portman Ridge Finance has a fifty-two week low of $5.78 and a fifty-two week high of $13.50. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $81.36 million, a price-to-earnings ratio of -11.95 and a beta of 0.55.

Analyst Ratings Changes

BCIC has been the topic of several analyst reports. Oppenheimer cut their target price on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, August 10th. Keefe, Bruyette & Woods decreased their price target on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a report on Monday, August 10th. Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Finally, Weiss Ratings raised Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $9.25.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to privately owned, primarily middle-market companies in the United States. The company invests across the capital structure, with a focus on senior secured loans, subordinated debt and, in some cases, equity securities. Through its investment portfolio, Portman Ridge seeks to support companies with acquisition financing, recapitalizations, refinancing and general corporate funding. Its investments may include first-lien and second-lien loans, unitranche facilities and other structured credit instruments.