Research Desk Line-up: Jupai Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Apollo Investment Corp. (NASDAQ: AINV), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AINV, following the Company's release of its financial results on August 04, 2017, for the first quarter of the fiscal year 2018 (Q1 FY18). The New York-based Company posted quarterly diluted earnings per share (EPS) versus diluted loss per share in the year ago comparable quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Asset Management industry. Pro-TD has currently selected Jupai Holdings Limited (NYSE: JP) for due-diligence and potential coverage as the Company announced on August 16, 2017, its unaudited financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Jupai when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AINV; also brushing on JP. With the links below you can directly download the report of your stock of interest free of charge at:
In Q1 FY18, Apollo Investment's quarterly total investment income was $66.71 million, which came in lower than $76.47 million reported in the year ago same quarter. However, total investment income numbers topped Wall Street's estimates of $66.07 million for the reported quarter.
For the quarter ended June 30, 2017, the Company reported net investment income of $33.32 million, or $0.15 per share, compared to $36.06 million, or $0.16 per share, in Q1 FY17. The Company's net investment income met market consensus estimates of $0.15 per share. Meanwhile, the Company posted earnings of $0.13 per diluted share in Q1 FY18 compared to loss of $0.19 per diluted share in the prior year's corresponding quarter.
The Company's net asset value stood at $6.73 per share as on June 30, 2017, compared to $6.90 per share as on June 30, 2016. At the close of the reported quarter, weighted average yield on total debt portfolio stood at 10.3% compared to 11.0% as on June 30, 2016. Additionally, the Company's net increase in net assets resulting from operations was $28.78 million in Q1 FY18 versus a net decrease in net assets resulting from operations of $42.09 million in the last year's comparable period.
Portfolio Standings and Liquidity
At the end of Q1 FY18, the Company's portfolio consisted 77% of secured debt; 7% of unsecured debt; 6% of structured products and other; 1% of preferred equity; and the remaining 9% in the form of common equity/interests and warrants. The Company's net investment activity before repaid investments was $332.1 million in Q1 FY18 compared to a negative net investment activity before repaid investments of $23.3 million in Q1 FY17. Furthermore, net investment activity for the reported quarter was $90.1 million versus negative net investment activity of $216.7 million in the prior year's comparable period.
Apollo Investment's total assets were $2.49 billion as on June 30, 2017, compared to $2.41 billion as on March 31, 2017. The Company's fair value of the investment portfolio was $2.42 billion as on June 30, 2017, versus $2.62 billion as on June 30, 2016.
As of June 30, 2017, Apollo Investment's cash and cash equivalents balance was $29.85 million, up from $9.78 million as on March 31, 2017. The Company's debt also increased to $920.67 million as on June 30, 2017, from $848.45 million as on March 31, 2017. Furthermore, the Company's debt-to-equity ratio was 0.62x as on June 30, 2017, compared to 0.57x as on March 31, 2017, while the Company's net leverage ratio was 0.62x as on June 30, 2017, compared to 0.55x as on June 30, 2016.
Dividend and Share Repurchase
On August 03, 2017, Apollo Investment's Board of Directors declared a dividend distribution of $0.15 per share, payable on October 05, 2017, to shareholders of record as of September 21, 2017.
At the closing bell, on Thursday, August 24, 2017, Apollo Investment's stock slipped 1.14%, ending the trading session at $6.09. A total volume of 1.01 million shares have exchanged hands, which was higher than the 3-month average volume of 659.29 thousand shares. The Company's stock price gained 3.92% since the start of the year. The stock is trading at a PE ratio of 15.11 and has a dividend yield of 9.85%. The stock currently has a market cap of $1.36 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily