Analysts Expect Apollo Investment Co. (NASDAQ:AINV) Will Announce Earnings of $0.34 Per Share

Analysts forecast that Apollo Investment Co. (NASDAQ:AINV – Get Rating) will announce earnings per share of $0.34 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Apollo Investment’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.35. Apollo Investment posted earnings per share of $0.39 in the same quarter last year, which would indicate a negative year over year growth rate of 12.8%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Apollo Investment will report full-year earnings of $1.41 per share for the current financial year, with EPS estimates ranging from $1.40 to $1.42. For the next financial year, analysts expect that the company will report earnings of $1.41 per share, with EPS estimates ranging from $1.35 to $1.46. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Apollo Investment.

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

Several research analysts recently weighed in on AINV shares. Citigroup upgraded shares of Apollo Investment from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.50 in a report on Monday, February 7th. Zacks Investment Research lowered shares of Apollo Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, StockNews.com started coverage on shares of Apollo Investment in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.44.

A number of large investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC grew its stake in Apollo Investment by 45.5% during the first quarter. Arete Wealth Advisors LLC now owns 385,662 shares of the asset manager’s stock valued at $5,098,000 after acquiring an additional 120,627 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in Apollo Investment by 9.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 348,771 shares of the asset manager’s stock worth $4,610,000 after buying an additional 30,527 shares in the last quarter. International Assets Investment Management LLC grew its stake in Apollo Investment by 1.7% in the 1st quarter. International Assets Investment Management LLC now owns 61,388 shares of the asset manager’s stock worth $812,000 after buying an additional 1,001 shares in the last quarter. National Asset Management Inc. purchased a new position in Apollo Investment in the 1st quarter worth approximately $142,000. Finally, Arkadios Wealth Advisors grew its stake in Apollo Investment by 120.0% in the 1st quarter. Arkadios Wealth Advisors now owns 117,696 shares of the asset manager’s stock worth $1,556,000 after buying an additional 64,206 shares in the last quarter. 30.83% of the stock is owned by institutional investors.

Shares of NASDAQ AINV opened at $12.66 on Thursday. The stock has a market capitalization of $805.81 million, a P/E ratio of 6.84 and a beta of 1.72. The company has a 50-day moving average price of $13.15 and a 200-day moving average price of $13.17. Apollo Investment has a 1 year low of $11.75 and a 1 year high of $15.27. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87.

Apollo Investment declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 3rd that permits the company to buyback $25.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

About Apollo Investment (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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