Apollo Investment Corp. (NASDAQ:AINV) – Equities researchers at Jefferies Financial Group lowered their Q1 2020 EPS estimates for Apollo Investment in a report issued on Friday, May 17th. Jefferies Financial Group analyst K. Joseph now forecasts that the asset manager will earn $0.45 per share for the quarter, down from their prior estimate of $0.46. Jefferies Financial Group also issued estimates for Apollo Investment’s Q2 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $1.83 EPS, Q1 2021 earnings at $0.46 EPS, Q2 2021 earnings at $0.46 EPS, Q3 2021 earnings at $0.47 EPS, Q4 2021 earnings at $0.48 EPS and FY2021 earnings at $1.87 EPS.
Several other equities research analysts have also commented on AINV. Zacks Investment Research lowered Apollo Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. ValuEngine upgraded Apollo Investment from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. BidaskClub lowered Apollo Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. National Securities restated a “neutral” rating and issued a $18.00 price objective on shares of Apollo Investment in a research note on Friday, February 8th. Finally, Citigroup upgraded Apollo Investment from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $14.00 in a research note on Tuesday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.40.
Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings data on Thursday, May 16th. The asset manager reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $61.41 million during the quarter, compared to analyst estimates of $64.29 million. Apollo Investment had a return on equity of 9.40% and a net margin of 28.20%. Apollo Investment’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS.
A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in Apollo Investment by 26.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,901,653 shares of the asset manager’s stock worth $28,791,000 after buying an additional 393,440 shares in the last quarter. BlackRock Inc. increased its stake in Apollo Investment by 6.3% in the 3rd quarter. BlackRock Inc. now owns 1,033,031 shares of the asset manager’s stock worth $5,620,000 after buying an additional 61,313 shares in the last quarter. Telemus Capital LLC increased its stake in Apollo Investment by 26.9% in the 1st quarter. Telemus Capital LLC now owns 571,756 shares of the asset manager’s stock worth $8,656,000 after buying an additional 121,326 shares in the last quarter. Confluence Investment Management LLC increased its stake in Apollo Investment by 70.4% in the 1st quarter. Confluence Investment Management LLC now owns 427,019 shares of the asset manager’s stock worth $6,465,000 after buying an additional 176,374 shares in the last quarter. Finally, Callodine Capital Management LP increased its stake in Apollo Investment by 74.4% in the 1st quarter. Callodine Capital Management LP now owns 363,316 shares of the asset manager’s stock worth $5,501,000 after buying an additional 155,000 shares in the last quarter. Institutional investors and hedge funds own 45.30% of the company’s stock.
Apollo Investment declared that its board has approved a stock repurchase plan on Wednesday, February 6th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a $0.35 dividend. The ex-dividend date was Monday, April 29th. Apollo Investment’s dividend payout ratio (DPR) is 99.45%.
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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