Portman Ridge Finance Corp (NASDAQ:BCIC) Stock Has Average Target Price of $9.25 According to Brokerages

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC) have earned a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.25.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Portman Ridge Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 9th. Oppenheimer decreased their target price on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, August 10th. Zacks Research downgraded shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a research note on Monday, August 10th.

Portman Ridge Finance Stock Down 0.5%

BCIC opened at $5.95 on Friday. Portman Ridge Finance has a 12 month low of $5.78 and a 12 month high of $13.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market cap of $73.66 million, a P/E ratio of -10.82 and a beta of 0.53. The stock’s 50 day moving average price is $6.99 and its 200 day moving average price is $8.06.

Portman Ridge Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 18.2%. The ex-dividend date is Tuesday, December 15th. Portman Ridge Finance’s dividend payout ratio is -196.36%.

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.