Apollo Investment Corp. (NASDAQ:AINV) announced a quarterly dividend on Thursday, August 6th, Zacks reports. Stockholders of record on Monday, September 21st will be given a dividend of 0.31 per share by the asset manager on Wednesday, October 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 13.18%. The ex-dividend date of this dividend is Friday, September 18th.
Apollo Investment has decreased its dividend by 14.4% over the last three years. Apollo Investment has a dividend payout ratio of 78.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect Apollo Investment to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 87.3%.
AINV opened at $9.41 on Wednesday. Apollo Investment has a one year low of $5.20 and a one year high of $18.33. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.34 and a quick ratio of 2.34. The business has a 50 day simple moving average of $9.33 and a two-hundred day simple moving average of $9.57. The firm has a market capitalization of $611.49 million, a price-to-earnings ratio of -4.53 and a beta of 1.73.
Apollo Investment (NASDAQ:AINV) last posted its earnings results on Thursday, August 6th. The asset manager reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.44 by ($0.01). The business had revenue of $56.67 million for the quarter, compared to analysts' expectations of $63.44 million. Apollo Investment had a negative net margin of 51.26% and a positive return on equity of 12.38%. Apollo Investment's quarterly revenue was down 14.8% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. As a group, sell-side analysts expect that Apollo Investment will post 1.56 EPS for the current fiscal year.
Several equities research analysts have recently commented on AINV shares. BidaskClub raised shares of Apollo Investment from a "strong sell" rating to a "sell" rating in a research report on Wednesday, September 9th. Wells Fargo & Company increased their price target on shares of Apollo Investment from $7.00 to $8.50 and gave the stock an "underweight" rating in a research note on Wednesday, May 20th. Citigroup cut Apollo Investment from a "neutral" rating to a "sell" rating and lifted their price objective for the company from $6.00 to $7.00 in a research report on Friday, May 22nd. ValuEngine lowered Apollo Investment from a "sell" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, Compass Point raised their target price on Apollo Investment from $6.00 to $6.50 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Five equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has an average rating of "Hold" and an average target price of $8.54.
About Apollo Investment
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.
See Also: Why do analysts give a neutral rating?
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