Equities research analysts expect Apollo Investment Co. (NASDAQ:AINV) to report $63.74 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Apollo Investment’s earnings, with the lowest sales estimate coming in at $61.67 million and the highest estimate coming in at $65.53 million. Apollo Investment posted sales of $66.30 million during the same quarter last year, which suggests a negative year over year growth rate of 3.9%. The business is expected to report its next earnings report before the market opens on Friday, May 18th.
On average, analysts expect that Apollo Investment will report full-year sales of $261.71 million for the current fiscal year, with estimates ranging from $259.60 million to $263.46 million. For the next year, analysts forecast that the firm will report sales of $268.86 million per share, with estimates ranging from $256.30 million to $274.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Apollo Investment.
Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $64.75 million during the quarter, compared to analysts’ expectations of $65.94 million. Apollo Investment had a return on equity of 9.45% and a net margin of 28.18%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share.
Several equities research analysts have weighed in on AINV shares. BidaskClub upgraded Apollo Investment from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. ValuEngine upgraded Apollo Investment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded Apollo Investment from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Thursday. National Securities restated a “neutral” rating and set a $6.00 target price on shares of Apollo Investment in a research note on Thursday, February 8th. Finally, SunTrust Banks restated a “buy” rating and set a $6.50 target price on shares of Apollo Investment in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.34.
Several institutional investors and hedge funds have recently made changes to their positions in the company. PVG Asset Management Corp bought a new position in shares of Apollo Investment in the 4th quarter valued at $3,092,000. All Terrain Financial Advisors LLC bought a new position in shares of Apollo Investment in the 4th quarter valued at $340,000. Jane Street Group LLC lifted its stake in shares of Apollo Investment by 1,196.8% in the 4th quarter. Jane Street Group LLC now owns 129,911 shares of the asset manager’s stock valued at $735,000 after acquiring an additional 119,893 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Apollo Investment by 6.7% in the 4th quarter. LPL Financial LLC now owns 193,410 shares of the asset manager’s stock valued at $1,095,000 after acquiring an additional 12,217 shares during the last quarter. Finally, HBK Investments L P lifted its stake in shares of Apollo Investment by 26.0% in the 4th quarter. HBK Investments L P now owns 46,100 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 9,500 shares during the last quarter. Institutional investors own 48.84% of the company’s stock.
Shares of AINV stock opened at $5.41 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.43 and a quick ratio of 0.43. Apollo Investment has a 1 year low of $5.18 and a 1 year high of $6.82. The company has a market capitalization of $1,173.56, a P/E ratio of 8.07, a P/E/G ratio of 1.65 and a beta of 0.91.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 12th. Stockholders of record on Tuesday, March 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.09%. The ex-dividend date was Monday, March 26th. Apollo Investment’s payout ratio is 89.55%.
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About Apollo Investment
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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