Zacks: Analysts Anticipate Apollo Investment Corp. (NASDAQ:AINV) to Announce $0.45 Earnings Per Share

Wall Street brokerages predict that Apollo Investment Corp. (NASDAQ:AINV) will post earnings of $0.45 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Apollo Investment’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.42. Apollo Investment posted earnings of $0.50 per share during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The firm is scheduled to issue its next earnings results on Tuesday, August 4th.

On average, analysts expect that Apollo Investment will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.87. For the next financial year, analysts expect that the firm will post earnings of $1.66 per share, with EPS estimates ranging from $1.50 to $1.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Apollo Investment.

Apollo Investment (NASDAQ:AINV) last released its earnings results on Thursday, May 21st. The asset manager reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.14. The business had revenue of $71.60 million during the quarter, compared to the consensus estimate of $63.83 million. Apollo Investment had a positive return on equity of 12.15% and a negative net margin of 41.91%. During the same period last year, the business posted $0.47 earnings per share.

A number of analysts have recently weighed in on AINV shares. TheStreet downgraded Apollo Investment from a “c” rating to a “d+” rating in a research report on Thursday, June 4th. ValuEngine downgraded Apollo Investment from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. BMO Capital Markets dropped their target price on Apollo Investment from $16.00 to $11.00 and set a “market perform” rating for the company in a research report on Friday, May 22nd. Raymond James downgraded Apollo Investment from an “outperform” rating to a “market perform” rating in a research report on Friday, March 27th. Finally, Royal Bank of Canada increased their target price on Apollo Investment from $8.00 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, May 22nd. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.54.

Shares of AINV stock traded up $0.18 during trading on Tuesday, reaching $9.63. 2,119 shares of the company’s stock were exchanged, compared to its average volume of 754,796. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.75. The firm’s fifty day moving average price is $9.87 and its 200-day moving average price is $12.71. Apollo Investment has a twelve month low of $5.20 and a twelve month high of $18.33. The stock has a market capitalization of $610.18 million, a PE ratio of -5.41 and a beta of 1.81.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Thursday, June 18th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, June 17th. This represents a $1.80 annualized dividend and a yield of 18.69%. Apollo Investment’s dividend payout ratio is currently 83.33%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new stake in shares of Apollo Investment in the 4th quarter worth approximately $2,903,000. IHT Wealth Management LLC grew its holdings in shares of Apollo Investment by 4.6% during the fourth quarter. IHT Wealth Management LLC now owns 18,053 shares of the asset manager’s stock valued at $315,000 after buying an additional 801 shares during the last quarter. Guggenheim Capital LLC lifted its position in Apollo Investment by 0.6% during the first quarter. Guggenheim Capital LLC now owns 153,886 shares of the asset manager’s stock valued at $1,039,000 after purchasing an additional 974 shares during the period. Coastal Bridge Advisors LLC lifted its position in Apollo Investment by 11.4% during the first quarter. Coastal Bridge Advisors LLC now owns 12,319 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 1,261 shares during the period. Finally, US Bancorp DE lifted its position in Apollo Investment by 6.0% during the first quarter. US Bancorp DE now owns 24,641 shares of the asset manager’s stock valued at $166,000 after purchasing an additional 1,401 shares during the period. 36.76% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Apollo Investment (NASDAQ:AINV)

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