Portman Ridge Finance (PTMN) Issues Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Portman Ridge Finance (NASDAQ:PTMN) posted its earnings results on Friday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.13), MarketWatch Earnings reports. The business had revenue of $5.80 million for the quarter. Portman Ridge Finance had a positive return on equity of 5.81% and a negative net margin of 35.34%.

PTMN stock opened at $2.99 on Friday. The company has a market cap of $111.71 million, a P/E ratio of 11.07 and a beta of 0.89. Portman Ridge Finance has a fifty-two week low of $2.87 and a fifty-two week high of $3.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.43 and a quick ratio of 0.43.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 13.38%. The ex-dividend date of this dividend was Thursday, April 4th. Portman Ridge Finance’s payout ratio is 148.15%.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet cut Portman Ridge Finance from a “b-” rating to a “c+” rating in a research note on Thursday, April 4th.

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Portman Ridge Finance Company Profile

Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.

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