Zacks: Brokerages Anticipate Apollo Investment Corporation (AINV) Will Announce Quarterly Sales of $66.37 Million
Analysts forecast that Apollo Investment Corporation (NASDAQ:AINV) will report sales of $66.37 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Apollo Investment’s earnings. The lowest sales estimate is $65.53 million and the highest is $66.94 million. Apollo Investment reported sales of $68.07 million in the same quarter last year, which indicates a negative year over year growth rate of 2.5%. The company is expected to issue its next quarterly earnings report on Monday, February 5th.
According to Zacks, analysts expect that Apollo Investment will report full-year sales of $66.37 million for the current fiscal year, with estimates ranging from $265.18 million to $267.76 million. For the next fiscal year, analysts anticipate that the firm will post sales of $283.23 million per share, with estimates ranging from $281.95 million to $285.39 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Apollo Investment.
Apollo Investment (NASDAQ:AINV) last posted its earnings results on Friday, November 3rd. The asset manager reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Apollo Investment had a net margin of 29.87% and a return on equity of 9.51%. The business had revenue of $66.46 million for the quarter, compared to the consensus estimate of $67.75 million. During the same period last year, the company earned $0.18 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year.
Several research firms recently commented on AINV. ValuEngine upgraded shares of Apollo Investment from a “hold” rating to a “buy” rating in a research report on Friday. Compass Point upgraded shares of Apollo Investment from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Bank of America reiterated an “underperform” rating and set a $6.00 target price (up from $5.50) on shares of Apollo Investment in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods set a $7.00 target price on shares of Apollo Investment and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded shares of Apollo Investment from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.41.
Apollo Investment (NASDAQ:AINV) traded down $0.10 during trading hours on Wednesday, reaching $5.91. 1,251,159 shares of the company traded hands, compared to its average volume of 722,576. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.59. Apollo Investment has a twelve month low of $5.69 and a twelve month high of $6.82. The firm has a market cap of $1,312.84, a P/E ratio of 9.25, a PEG ratio of 1.92 and a beta of 0.93.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 21st will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.15%. Apollo Investment’s dividend payout ratio (DPR) is currently 166.67%.
Hedge funds and other institutional investors have recently modified their holdings of the company. GAM Holding AG lifted its position in shares of Apollo Investment by 2.7% in the 2nd quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock worth $106,000 after purchasing an additional 441 shares during the period. Rhumbline Advisers lifted its position in shares of Apollo Investment by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock worth $107,000 after purchasing an additional 58 shares during the period. Essex Financial Services Inc. acquired a new position in shares of Apollo Investment in the 2nd quarter worth approximately $112,000. Cubist Systematic Strategies LLC acquired a new position in shares of Apollo Investment in the 3rd quarter worth approximately $108,000. Finally, HighTower Advisors LLC lifted its position in shares of Apollo Investment by 8.8% in the 2nd quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock worth $115,000 after purchasing an additional 1,451 shares during the period. Hedge funds and other institutional investors own 46.62% of the company’s stock.
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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