$54.10 Million in Sales Expected for Apollo Investment Co. (NASDAQ:AINV) This Quarter

Brokerages expect Apollo Investment Co. (NASDAQ:AINVGet Rating) to announce sales of $54.10 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Apollo Investment’s earnings, with the highest sales estimate coming in at $55.29 million and the lowest estimate coming in at $53.48 million. Apollo Investment reported sales of $50.83 million during the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Apollo Investment will report full-year sales of $212.52 million for the current financial year, with estimates ranging from $211.89 million to $213.71 million. For the next financial year, analysts expect that the firm will report sales of $223.99 million, with estimates ranging from $220.54 million to $228.07 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Apollo Investment.

Apollo Investment (NASDAQ:AINVGet Rating) last issued its earnings results on Thursday, February 3rd. The asset manager reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $54.97 million for the quarter, compared to analysts’ expectations of $54.53 million. Apollo Investment had a return on equity of 9.14% and a net margin of 57.61%. During the same quarter last year, the firm earned $0.43 earnings per share.

Several analysts recently weighed in on the company. StockNews.com assumed coverage on Apollo Investment in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered Apollo Investment from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, Citigroup raised Apollo Investment from a “sell” rating to a “neutral” rating and upped their target price for the company from $12.00 to $13.50 in a report on Monday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.44.

Shares of NASDAQ AINV traded down $0.02 during midday trading on Friday, reaching $13.33. 1,102 shares of the company’s stock were exchanged, compared to its average volume of 342,709. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $848.41 million, a PE ratio of 7.22 and a beta of 1.82. Apollo Investment has a 52-week low of $11.75 and a 52-week high of $15.27. The business’s fifty day moving average price is $13.31 and its two-hundred day moving average price is $13.20.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Monday, March 21st were given a $0.31 dividend. The ex-dividend date was Friday, March 18th. This represents a $1.24 dividend on an annualized basis and a yield of 9.30%. Apollo Investment’s dividend payout ratio (DPR) is 67.03%.

Apollo Investment announced that its board has authorized a share repurchase program on Thursday, February 3rd that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AE Wealth Management LLC lifted its position in Apollo Investment by 6.6% in the first quarter. AE Wealth Management LLC now owns 41,676 shares of the asset manager’s stock worth $551,000 after purchasing an additional 2,589 shares during the period. BlackRock Inc. lifted its position in Apollo Investment by 8.9% in the fourth quarter. BlackRock Inc. now owns 501,305 shares of the asset manager’s stock worth $6,411,000 after purchasing an additional 40,818 shares during the period. Virtu Financial LLC acquired a new stake in Apollo Investment in the fourth quarter worth approximately $153,000. Global Wealth Management Investment Advisory Inc. lifted its position in Apollo Investment by 24.6% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 22,483 shares of the asset manager’s stock worth $288,000 after purchasing an additional 4,432 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Apollo Investment in the fourth quarter worth approximately $374,000. Hedge funds and other institutional investors own 35.15% of the company’s stock.

Apollo Investment Company Profile (Get Rating)

Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company that has elected to be treated as a business development company (ÂBDCÂ) under the Investment Company Act of 1940 (the Â1940 ActÂ) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.

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

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