Apollo Investment Corp. (NASDAQ:AINV) – SunTrust Banks upped their Q2 2019 earnings per share (EPS) estimates for shares of Apollo Investment in a research report issued to clients and investors on Thursday. SunTrust Banks analyst D. Mewhirter now anticipates that the asset manager will post earnings of $0.16 per share for the quarter, up from their previous forecast of $0.15. SunTrust Banks currently has a “Buy” rating and a $6.50 target price on the stock. SunTrust Banks also issued estimates for Apollo Investment’s Q3 2019 earnings at $0.16 EPS.
Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Apollo Investment had a net margin of 28.18% and a return on equity of 9.45%. The company had revenue of $64.75 million during the quarter, compared to analyst estimates of $65.94 million. During the same period last year, the firm posted $0.17 EPS. Apollo Investment’s revenue for the quarter was down 4.9% compared to the same quarter last year.
Apollo Investment (NASDAQ:AINV) traded down $0.18 on Friday, reaching $5.30. 2,174,038 shares of the company’s stock were exchanged, compared to its average volume of 1,009,414. Apollo Investment has a 12 month low of $5.30 and a 12 month high of $6.82. The company has a quick ratio of 0.61, a current ratio of 0.43 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1,160.00, a price-to-earnings ratio of 15.59, a PEG ratio of 1.73 and a beta of 0.88.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpha Windward LLC purchased a new stake in Apollo Investment in the 3rd quarter worth $462,000. Wells Fargo & Company MN increased its holdings in Apollo Investment by 4.5% in the 3rd quarter. Wells Fargo & Company MN now owns 3,030,493 shares of the asset manager’s stock worth $18,516,000 after acquiring an additional 129,374 shares in the last quarter. Commonwealth Equity Services Inc increased its holdings in Apollo Investment by 12.5% in the 3rd quarter. Commonwealth Equity Services Inc now owns 302,986 shares of the asset manager’s stock worth $1,851,000 after acquiring an additional 33,747 shares in the last quarter. Telemus Capital LLC increased its holdings in Apollo Investment by 34.9% in the 3rd quarter. Telemus Capital LLC now owns 1,245,571 shares of the asset manager’s stock worth $7,610,000 after acquiring an additional 322,123 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in Apollo Investment by 20.2% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 306,400 shares of the asset manager’s stock worth $1,872,000 after acquiring an additional 51,400 shares in the last quarter. 46.51% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Tuesday, March 27th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.32%. The ex-dividend date is Monday, March 26th. Apollo Investment’s payout ratio is presently 176.47%.
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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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