Apollo Investment Corp. (NASDAQ:AINV) announced a quarterly dividend on Thursday, August 6th, Zacks reports. Shareholders of record on Monday, September 21st will be paid a dividend of 0.31 per share by the asset manager on Wednesday, October 7th. This represents a $1.24 annualized dividend and a yield of 13.18%. The ex-dividend date of this dividend is Friday, September 18th.
Apollo Investment has decreased its dividend payment by 14.4% over the last three years. Apollo Investment has a dividend payout ratio of 78.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Apollo Investment to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 87.3%.
Apollo Investment stock traded up $0.04 during midday trading on Wednesday, hitting $9.41. The company’s stock had a trading volume of 104 shares, compared to its average volume of 383,905. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.34 and a quick ratio of 2.34. Apollo Investment has a 1-year low of $5.20 and a 1-year high of $18.33. The company has a market cap of $611.49 million, a price-to-earnings ratio of -4.55 and a beta of 1.73. The company has a 50-day moving average price of $9.33 and a two-hundred day moving average price of $9.57.
Apollo Investment (NASDAQ:AINV) last released its earnings results on Thursday, August 6th. The asset manager reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). Apollo Investment had a negative net margin of 51.26% and a positive return on equity of 12.38%. The firm had revenue of $56.67 million during the quarter, compared to the consensus estimate of $63.44 million. During the same period in the prior year, the business earned $0.50 earnings per share. Apollo Investment’s quarterly revenue was down 14.8% compared to the same quarter last year. Sell-side analysts forecast that Apollo Investment will post 1.56 EPS for the current year.
Several equities analysts have commented on AINV shares. TheStreet lowered shares of Apollo Investment from a “c” rating to a “d+” rating in a report on Thursday, June 4th. Zacks Investment Research lowered shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Tuesday, August 4th. Royal Bank of Canada raised their target price on shares of Apollo Investment from $8.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, May 22nd. ValuEngine lowered shares of Apollo Investment from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, BidaskClub raised shares of Apollo Investment from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 9th. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Apollo Investment currently has an average rating of “Hold” and an average price target of $8.54.
Apollo Investment Company Profile
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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