Wall Street analysts expect Apollo Investment Co. (NASDAQ: AINV – Get a rating) will report earnings of $0.34 per share for the current quarter, according to Zacks. Three analysts have made earnings estimates for Apollo Investment, with the highest EPS estimate being $0.35 and the lowest estimate $0.33. Apollo Investment posted earnings of $0.39 per share in the same quarter last year, suggesting a negative 12.8% year-over-year growth rate. The company is expected to announce its next earnings report on Monday, January 1.
On average, analysts expect Apollo Investment to report annual earnings of $1.41 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.42. For the next fiscal year, analysts expect the company to report earnings of $1.41 per share, with EPS estimates ranging from $1.35 to $1.46. Zacks’ EPS calculations are an average average based on a survey of sell-side research analysts who provide coverage for Apollo Investment.
Apollo Investment (NASDAQ: AINV – Get a rating) last released its quarterly earnings data on Thursday, February 3. The asset manager reported EPS of $0.35 for the quarter, beating analyst consensus estimates of $0.34 by $0.01. The company posted revenue of $54.97 million for the quarter, versus a consensus estimate of $54.53 million. Apollo Investment had a return on equity of 9.14% and a net margin of 57.61%. During the same period last year, the company posted EPS of $0.43.
A number of research companies have recently published reports on AINV. Zacks Investment Research downgraded Apollo Investment from a “buy” rating to a “hold” rating in a Tuesday, April 12 research note. StockNews.com began covering Apollo Investment in a research note on Thursday, March 31. They issued a “holding” rating for the company. Finally, Citigroup upgraded Apollo Investment from a “sell” rating to a “neutral” rating and raised its price target for the company from $12.00 to $13.50 in a Monday, February 7 research note. One research analyst rated the stock with a sell rating, four gave the stock a hold rating, and one gave the stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.44.
AINV action opened at $13.30 on Thursday. The company has a debt ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. Apollo Investment has a 1 year minimum of $11.75 and a 1 year maximum of $15.27. The company has a market capitalization of $846.55 million, a P/E ratio of 7.19 and a beta of 1.82. The stock has a 50-day simple moving average of $13.31 and a 200-day simple moving average of $13.20.
Apollo Investment announced that its board of directors authorized a stock repurchase plan on Thursday, February 3 that allows the company to repurchase $25.00 million in stock. This redemption authorization allows the asset manager to redeem up to 3% of its shares through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7. Shareholders of record on Monday, March 21 received a dividend of $0.31 per share. The ex-dividend date was Friday, March 18. This represents a dividend of $1.24 on an annualized basis and a yield of 9.32%. Apollo Investment’s dividend payout ratio (DPR) is currently 67.03%.
Hedge funds and other institutional investors have recently changed their stakes in the company. Millennium Management LLC increased its position in Apollo Investment shares by 32.1% in the second quarter. Millennium Management LLC now owns 22,228 shares of the asset manager worth $303,000 after acquiring 5,407 additional shares last quarter. WINTON GROUP Ltd increased its position in Apollo Investment shares by 10.2% in the 3rd quarter. WINTON GROUP Ltd now owns 115,721 shares in the asset manager worth $1,501,000 after acquiring an additional 10,680 shares last quarter. International Assets Investment Management LLC increased its position in Apollo Investment shares by 4.4% in the third quarter. International Assets Investment Management LLC now owns 61,185 shares of the asset manager worth $794,000 after acquiring 2,602 additional shares last quarter. Sigma Planning Corp increased its position in Apollo Investment shares by 7.4% in the third quarter. Sigma Planning Corp now owns 37,896 shares of the asset manager worth $492,000 after acquiring 2,612 more shares last quarter. Finally, Commonwealth Equity Services LLC increased its position in Apollo Investment shares by 26.2% in the third quarter. Commonwealth Equity Services LLC now owns 251,401 shares of the asset manager worth $3,260,000 after acquiring an additional 52,221 shares last quarter. Hedge funds and other institutional investors own 35.15% of the company’s shares.
Apollo Investment Company Profile (Get a rating)
Apollo Investment Corporation is a closed-end, externally managed, non-diversified investment company that has elected to be treated as a business development company (BDC) under the Investment Companies Act of 1940 ( Act of 1940) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, development capital, refinancing and middle market private companies.
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