Jefferies Financial Group Equities Analysts Decrease Earnings Estimates for Apollo Investment Corp. (NASDAQ:AINV)

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Apollo Investment Corp. (NASDAQ:AINV) – Equities researchers at Jefferies Financial Group reduced their Q3 2020 earnings per share estimates for shares of Apollo Investment in a note issued to investors on Tuesday, August 6th. Jefferies Financial Group analyst K. Joseph now expects that the asset manager will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.46. Jefferies Financial Group also issued estimates for Apollo Investment’s Q4 2020 earnings at $0.45 EPS, Q1 2021 earnings at $0.45 EPS, Q2 2021 earnings at $0.45 EPS, Q3 2021 earnings at $0.46 EPS and Q4 2021 earnings at $0.47 EPS.

Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings data on Tuesday, August 6th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. The firm had revenue of $66.52 million during the quarter, compared to analysts’ expectations of $65.60 million. Apollo Investment had a net margin of 28.20% and a return on equity of 9.48%. During the same quarter in the previous year, the company earned $0.45 earnings per share.

AINV has been the topic of a number of other research reports. ValuEngine raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. National Securities reaffirmed a “neutral” rating and issued a $18.00 price target on shares of Apollo Investment in a research note on Monday, May 20th. BidaskClub lowered shares of Apollo Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Zacks Investment Research lowered shares of Apollo Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Co lowered shares of Apollo Investment from an “outperform” rating to a “market perform” rating and set a $17.00 price target on the stock. in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.50.

Shares of NASDAQ AINV opened at $16.11 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. Apollo Investment has a 52-week low of $12.05 and a 52-week high of $17.82. The firm’s 50 day moving average price is $16.17. The firm has a market capitalization of $1.08 billion, a PE ratio of 8.90, a P/E/G ratio of 8.81 and a beta of 1.11.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 20th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 11.17%. The ex-dividend date of this dividend is Thursday, September 19th. Apollo Investment’s payout ratio is currently 99.45%.

Hedge funds have recently made changes to their positions in the company. LLBH Private Wealth Management LLC acquired a new stake in Apollo Investment during the second quarter worth about $339,000. JPMorgan Chase & Co. grew its stake in Apollo Investment by 5.0% during the second quarter. JPMorgan Chase & Co. now owns 48,892 shares of the asset manager’s stock worth $763,000 after buying an additional 2,347 shares in the last quarter. Van ECK Associates Corp grew its stake in Apollo Investment by 9.6% during the second quarter. Van ECK Associates Corp now owns 568,064 shares of the asset manager’s stock worth $8,975,000 after buying an additional 49,612 shares in the last quarter. Mckinley Capital Management LLC Delaware grew its stake in Apollo Investment by 3.7% during the second quarter. Mckinley Capital Management LLC Delaware now owns 174,421 shares of the asset manager’s stock worth $2,756,000 after buying an additional 6,210 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Apollo Investment by 7.1% during the second quarter. Wells Fargo & Company MN now owns 2,037,289 shares of the asset manager’s stock worth $32,189,000 after buying an additional 135,636 shares in the last quarter. 41.92% of the stock is currently 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.

Read More: Net Margin – Understanding the Different Kinds of Profit

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

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