Portman Ridge Finance (NASDAQ:BCIC) Releases Earnings Results, Beats Expectations By $0.10 EPS

Portman Ridge Finance (NASDAQ:BCIC) announced its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10, Zacks reports. Portman Ridge Finance had a negative net margin of 5.72% and a positive return on equity of 14.09%.

Portman Ridge Finance Stock Performance

Shares of Portman Ridge Finance stock traded down $0.32 during trading on Wednesday, hitting $6.57. 116,307 shares of the stock were exchanged, compared to its average volume of 75,529. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.56. The company has a fifty day moving average price of $6.71 and a 200-day moving average price of $7.97. The stock has a market capitalization of $81.36 million, a price-to-earnings ratio of -11.95 and a beta of 0.55. Portman Ridge Finance has a 1-year low of $5.78 and a 1-year high of $13.50.

Analyst Ratings Changes

Several research firms have recently weighed in on BCIC. Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Oppenheimer dropped their price objective on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, August 10th. Weiss Ratings raised shares of Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, October 28th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Portman Ridge Finance has a consensus rating of “Reduce” and a consensus target price of $9.25.

About Portman Ridge Finance

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.