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

Key Points

• Analyst sentiment is cautious: Portman Ridge Finance has a consensus “Reduce” rating, with two sell ratings and three hold ratings. The average 12-month price target is $9.25.
• Shares are trading near their yearly low: BCIC opened at $5.94, compared with a 12-month range of $5.80 to $13.50, while recent analysts lowered price targets to as low as $7.50.
• The company announced a high-yield monthly dividend: Portman Ridge will pay $0.09 per share, or $1.08 annually, representing an 18.2% yield based on the reported share price.

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) have earned an average recommendation of "Reduce" from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $9.25.

Several research firms have recently commented on BCIC. Weiss Ratings lowered shares of Portman Ridge Finance from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, October 9th. Zacks Research downgraded shares of Portman Ridge Finance from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. Oppenheimer reduced their price objective on Portman Ridge Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Monday, August 10th. Finally, Keefe, Bruyette & Woods decreased their price target 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 Performance

NASDAQ:BCIC opened at $5.94 on Friday. The firm has a market capitalization of $73.54 million, a price-to-earnings ratio of -10.80 and a beta of 0.53. The firm's fifty day simple moving average is $7.08 and its 200 day simple moving average is $7.38. Portman Ridge Finance has a twelve month low of $5.80 and a twelve month high of $13.50. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.56.

Portman Ridge Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a yield of 18.2%. The ex-dividend date is Tuesday, December 15th. Portman Ridge Finance's payout ratio is presently -196.36%.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company that provides financing to middle-market businesses. The company primarily invests in privately held companies through senior secured loans, second-lien and subordinated debt, and, to a lesser extent, equity investments.

Its portfolio is generally focused on companies across a range of industries and may include first-lien, unitranche and other structured debt investments. Portman Ridge seeks to generate income from its investment portfolio while also pursuing potential long-term capital appreciation through equity and other investments.

The company is externally managed and has historically operated under the investment-management platform of Sierra Crest Investment Management LLC.

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