Apollo Investment Corp. (NASDAQ:AINV) – Investment analysts at SunTrust Banks lowered their FY2019 EPS estimates for shares of Apollo Investment in a research note issued on Wednesday, February 6th. SunTrust Banks analyst M. Hughes now expects that the asset manager will earn $1.81 per share for the year, down from their previous forecast of $1.82. SunTrust Banks also issued estimates for Apollo Investment’s Q4 2019 earnings at $0.46 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.47 EPS and Q4 2020 earnings at $0.49 EPS.Get Apollo Investment alerts:
A number of other brokerages have also issued reports on AINV. Raymond James increased their price target on Apollo Investment from $7.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 4th. Barclays increased their price target on Apollo Investment from $6.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 4th. National Securities restated a “neutral” rating and set a $18.00 price objective on shares of Apollo Investment in a research report on Thursday, November 1st. ValuEngine cut Apollo Investment from a “hold” rating to a “sell” rating in a report on Wednesday, December 5th. Finally, BidaskClub cut Apollo Investment from a “buy” rating to a “hold” rating in a report on Saturday, December 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.50.
Shares of AINV stock opened at $15.31 on Friday. Apollo Investment has a 52-week low of $12.05 and a 52-week high of $18.00. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22.
Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). Apollo Investment had a return on equity of 9.25% and a net margin of 23.80%. The business had revenue of $64.00 million during the quarter, compared to analysts’ expectations of $64.31 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis.
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Apollo Investment in the third quarter worth about $116,000. Telemus Capital LLC increased its holdings in shares of Apollo Investment by 1.5% in the third quarter. Telemus Capital LLC now owns 1,352,893 shares of the asset manager’s stock worth $7,360,000 after purchasing an additional 19,493 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Apollo Investment in the third quarter worth about $108,000. Rational Advisors LLC increased its holdings in shares of Apollo Investment by 56.7% in the third quarter. Rational Advisors LLC now owns 183,980 shares of the asset manager’s stock worth $1,001,000 after purchasing an additional 66,540 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Apollo Investment by 103.8% in the third quarter. Koshinski Asset Management Inc. now owns 79,516 shares of the asset manager’s stock worth $433,000 after purchasing an additional 40,502 shares during the last quarter.
Apollo Investment announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 21st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 11.76%. This is a boost from Apollo Investment’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 20th. Apollo Investment’s payout ratio is 98.36%.
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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