Apollo Investment Corporation (AINV) Expected to Announce Quarterly Sales of $68.16 Million
Equities analysts expect Apollo Investment Corporation (NASDAQ:AINV) to report $68.16 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Apollo Investment Corporation’s earnings. The lowest sales estimate is $64.23 million and the highest is $70.73 million. Apollo Investment Corporation posted sales of $69.03 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The company is expected to issue its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that Apollo Investment Corporation will report full-year sales of $68.16 million for the current year, with estimates ranging from $267.26 million to $279.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $290.13 million per share, with estimates ranging from $283.81 million to $298.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Apollo Investment Corporation.
Apollo Investment Corporation (NASDAQ:AINV) last released its quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $66.70 million for the quarter, compared to the consensus estimate of $65.19 million. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS.
A number of equities analysts have recently commented on AINV shares. BidaskClub cut shares of Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $6.50 target price on shares of Apollo Investment Corporation in a report on Thursday, August 31st. National Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Apollo Investment Corporation in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.25.
Apollo Investment Corporation (AINV) traded up 0.50% during mid-day trading on Thursday, hitting $6.04. 1,161,603 shares of the stock traded hands. Apollo Investment Corporation has a 12-month low of $5.65 and a 12-month high of $6.82. The company has a 50 day moving average of $6.17 and a 200-day moving average of $6.37.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 21st will be given a $0.15 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 9.93%. Apollo Investment Corporation’s dividend payout ratio (DPR) is 150.00%.
Large investors have recently bought and sold shares of the stock. Karp Capital Management Corp purchased a new position in Apollo Investment Corporation in the 1st quarter valued at $101,000. Atria Investments LLC purchased a new position in Apollo Investment Corporation in the 2nd quarter valued at $103,000. GAM Holding AG grew its position in Apollo Investment Corporation by 2.7% in the 2nd quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after buying an additional 441 shares during the last quarter. Rhumbline Advisers grew its position in Apollo Investment Corporation by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after buying an additional 58 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new position in Apollo Investment Corporation in the 2nd quarter valued at $112,000. Hedge funds and other institutional investors own 45.84% of the company’s stock.
About Apollo Investment Corporation
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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