Portman Ridge Finance Corp (NASDAQ:BCIC) Stock Has Average Target Price of $9.25

Key Points

• Analyst sentiment is cautious: Portman Ridge Finance has an average “Reduce” rating from five analysts, with one sell and four hold ratings. The average 12-month price target is $9.25.
• Shares remain near their yearly low: BCIC opened at $6.78, compared with a 52-week range of $6.70 to $13.50, and is below its 50-day and 200-day moving averages.
• The company declared a high-yield monthly dividend: Shareholders will receive $0.09 per share, equivalent to $1.08 annually and a 15.9% yield, although the payout ratio is negative at -196.36%.

Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) has received an average recommendation of "Reduce" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.25.

A number of equities research analysts recently issued reports on the company. Oppenheimer decreased their price target on Portman Ridge Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Portman Ridge Finance in a research report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods reduced their target price on Portman Ridge Finance from $9.00 to $7.50 and set a "market perform" rating on the stock in a research note on Monday, August 10th.

Portman Ridge Finance Stock Down 2.3%

Shares of NASDAQ:BCIC opened at $6.78 on Tuesday. The firm has a market capitalization of $83.94 million, a PE ratio of -12.33 and a beta of 0.50. The business has a 50 day simple moving average of $7.34 and a two-hundred day simple moving average of $7.51. Portman Ridge Finance has a 1 year low of $6.70 and a 1 year high of $13.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.45 and a quick ratio of 1.45.

Portman Ridge Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 15.9%. Portman Ridge Finance's dividend payout ratio is presently -196.36%.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to middle-market businesses. The company primarily invests in privately originated debt and equity securities, with an emphasis on senior secured loans and other forms of credit designed to generate income while supporting the growth and operations of its portfolio companies.

In addition to direct investments, Portman Ridge Finance has invested in broadly syndicated loans and collateralized loan obligation vehicles.

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