Apollo Investment Corp. (AINV) Expected to Post Quarterly Sales of $65.03 Million

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Equities analysts expect that Apollo Investment Corp. (NASDAQ:AINV) will report $65.03 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Apollo Investment’s earnings, with estimates ranging from $62.22 million to $68.73 million. Apollo Investment reported sales of $61.49 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.8%. The business is scheduled to announce its next quarterly earnings results on Friday, May 17th.

According to Zacks, analysts expect that Apollo Investment will report full-year sales of $259.26 million for the current fiscal year, with estimates ranging from $255.89 million to $264.34 million. For the next financial year, analysts anticipate that the firm will report sales of $286.35 million, with estimates ranging from $270.84 million to $311.34 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Apollo Investment.

Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). Apollo Investment had a net margin of 23.80% and a return on equity of 9.25%. The business had revenue of $64.00 million during the quarter, compared to analysts’ expectations of $64.31 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year.

A number of research firms recently weighed in on AINV. BidaskClub downgraded Apollo Investment from a “hold” rating to a “sell” rating in a research note on Friday, December 28th. ValuEngine upgraded Apollo Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Barclays set a $16.00 price target on Apollo Investment and gave the company a “hold” rating in a research note on Friday, December 14th. Citigroup upgraded Apollo Investment from a “sell” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $14.00 in a research note on Tuesday, January 22nd. Finally, National Securities restated a “neutral” rating and issued a $18.00 price target on shares of Apollo Investment in a research note on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.50.

Apollo Investment stock opened at $15.32 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.76. Apollo Investment has a 1-year low of $12.05 and a 1-year high of $18.00. The company has a market capitalization of $1.07 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Thursday, March 21st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 11.75%. This is an increase from Apollo Investment’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 20th. Apollo Investment’s payout ratio is presently 98.36%.

Apollo Investment announced that its board has approved a share buyback program on Wednesday, February 6th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new stake in Apollo Investment during the third quarter worth $116,000. Telemus Capital LLC boosted its position in Apollo Investment by 1.5% during the third quarter. Telemus Capital LLC now owns 1,352,893 shares of the asset manager’s stock worth $7,360,000 after purchasing an additional 19,493 shares in the last quarter. Caxton Associates LP purchased a new stake in Apollo Investment during the third quarter worth $108,000. Rational Advisors LLC boosted its position in Apollo Investment by 56.7% during the third quarter. Rational Advisors LLC now owns 183,980 shares of the asset manager’s stock worth $1,001,000 after purchasing an additional 66,540 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in Apollo Investment by 103.8% during the third quarter. Koshinski Asset Management Inc. now owns 79,516 shares of the asset manager’s stock worth $433,000 after purchasing an additional 40,502 shares in the last quarter.

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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