Zacks: Brokerages Expect Apollo Investment Corp. (NASDAQ:AINV) Will Announce Quarterly Sales of $68.37 Million

Analysts expect Apollo Investment Corp. (NASDAQ:AINV) to report sales of $68.37 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Apollo Investment’s earnings, with the highest sales estimate coming in at $69.14 million and the lowest estimate coming in at $67.47 million. Apollo Investment posted sales of $66.03 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.5%. The company is expected to report its next earnings report on Tuesday, October 29th.

On average, analysts expect that Apollo Investment will report full year sales of $275.88 million for the current fiscal year, with estimates ranging from $273.00 million to $277.29 million. For the next year, analysts expect that the firm will report sales of $292.23 million, with estimates ranging from $282.10 million to $298.10 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Apollo Investment.

Apollo Investment (NASDAQ:AINV) last issued its earnings results on Tuesday, August 6th. The asset manager reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. Apollo Investment had a net margin of 31.99% and a return on equity of 9.88%. The business had revenue of $66.52 million for the quarter, compared to the consensus estimate of $65.60 million. During the same quarter last year, the firm posted $0.45 EPS.

A number of brokerages have recently commented on AINV. Wells Fargo & Co downgraded shares of Apollo Investment from an “outperform” rating to a “market perform” rating and set a $17.00 target price on the stock. in a research note on Wednesday, August 7th. BidaskClub downgraded shares of Apollo Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Compass Point downgraded shares of Apollo Investment from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Monday. Zacks Investment Research downgraded shares of Apollo Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, TheStreet raised shares of Apollo Investment from a “c” rating to a “b-” rating in a research note on Friday, June 7th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Apollo Investment currently has a consensus rating of “Hold” and an average price target of $17.43.

Shares of AINV stock traded down $0.17 during mid-day trading on Monday, reaching $16.81. The company’s stock had a trading volume of 374,101 shares, compared to its average volume of 332,333. The company’s 50 day simple moving average is $16.29 and its 200-day simple moving average is $15.87. Apollo Investment has a 12-month low of $12.05 and a 12-month high of $17.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $1.14 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 9.23 and a beta of 1.10.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 10.71%. The ex-dividend date is Thursday, September 19th. Apollo Investment’s payout ratio is 99.45%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AINV. Geode Capital Management LLC acquired a new stake in Apollo Investment during the 4th quarter valued at $146,000. SG Americas Securities LLC grew its holdings in Apollo Investment by 7.6% during the 1st quarter. SG Americas Securities LLC now owns 25,385 shares of the asset manager’s stock worth $384,000 after acquiring an additional 1,800 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in Apollo Investment by 132.6% during the 1st quarter. First Allied Advisory Services Inc. now owns 32,501 shares of the asset manager’s stock worth $492,000 after acquiring an additional 18,527 shares in the last quarter. Meridian Investment Counsel Inc. acquired a new position in Apollo Investment during the 1st quarter worth $741,000. Finally, LSV Asset Management grew its holdings in Apollo Investment by 8.5% during the 1st quarter. LSV Asset Management now owns 142,832 shares of the asset manager’s stock worth $2,162,000 after acquiring an additional 11,200 shares in the last quarter. 41.31% of the stock is owned by institutional investors and hedge funds.

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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