Analysts Expect Apollo Investment Corp. (AINV) to Post $0.15 Earnings Per Share

Equities analysts expect Apollo Investment Corp. (NASDAQ:AINV) to report earnings per share (EPS) of $0.15 for the current quarter, according to Zacks. Four analysts have provided estimates for Apollo Investment’s earnings, with estimates ranging from $0.15 to $0.16. Apollo Investment posted earnings of $0.16 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The business is expected to report its next earnings report after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that Apollo Investment will report full-year earnings of $0.61 per share for the current financial year, with EPS estimates ranging from $0.60 to $0.62. For the next fiscal year, analysts expect that the business will report earnings of $0.66 per share, with EPS estimates ranging from $0.62 to $0.71. Zacks’ EPS calculations are an average based on a survey of research firms that follow Apollo Investment.

Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings data on Wednesday, August 8th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Apollo Investment had a return on equity of 9.20% and a net margin of 27.90%. The company had revenue of $63.60 million during the quarter, compared to the consensus estimate of $62.38 million. During the same period last year, the company earned $0.15 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year.

AINV has been the subject of several recent analyst reports. Wells Fargo & Co decreased their target price on Apollo Investment from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Investment Research cut Apollo Investment from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. BidaskClub cut Apollo Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Citigroup initiated coverage on Apollo Investment in a research note on Thursday, August 23rd. They set a “sell” rating and a $5.00 target price for the company. Finally, TheStreet cut Apollo Investment from a “b-” rating to a “c” rating in a research note on Monday, August 13th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Apollo Investment has an average rating of “Hold” and an average price target of $6.08.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Apollo Investment by 8.0% in the second quarter. Wells Fargo & Company MN now owns 4,291,447 shares of the asset manager’s stock valued at $23,902,000 after acquiring an additional 317,111 shares during the period. Nomura Holdings Inc. grew its stake in Apollo Investment by 2.7% in the second quarter. Nomura Holdings Inc. now owns 1,478,894 shares of the asset manager’s stock valued at $8,237,000 after acquiring an additional 38,363 shares during the period. Van ECK Associates Corp grew its stake in Apollo Investment by 1.6% in the second quarter. Van ECK Associates Corp now owns 1,446,508 shares of the asset manager’s stock valued at $8,057,000 after acquiring an additional 22,521 shares during the period. Legal & General Group Plc grew its stake in Apollo Investment by 9.3% in the second quarter. Legal & General Group Plc now owns 876,078 shares of the asset manager’s stock valued at $4,893,000 after acquiring an additional 74,246 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Apollo Investment by 30.5% in the second quarter. Advisors Asset Management Inc. now owns 605,577 shares of the asset manager’s stock valued at $3,373,000 after acquiring an additional 141,704 shares during the period. 46.04% of the stock is owned by institutional investors and hedge funds.

Shares of AINV traded down $0.06 during mid-day trading on Wednesday, reaching $5.39. 797,650 shares of the company were exchanged, compared to its average volume of 806,431. Apollo Investment has a 52 week low of $5.18 and a 52 week high of $6.18. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 1.79 and a beta of 0.87.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 9th. Investors of record on Monday, September 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 21st. This represents a $0.60 annualized dividend and a yield of 11.13%. Apollo Investment’s dividend payout ratio is currently 98.36%.

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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Earnings History and Estimates for Apollo Investment (NASDAQ:AINV)

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