Portman Ridge Finance Co. (NASDAQ:PTMN – Get Rating) – Equities researchers at Oppenheimer issued their Q2 2022 earnings per share (EPS) estimates for shares of Portman Ridge Finance in a research report issued to clients and investors on Tuesday, July 5th. Oppenheimer analyst M. Penn forecasts that the company will post earnings of $0.67 per share for the quarter. Oppenheimer has a “Market Perform” rating and a $26.00 price objective on the stock. The consensus estimate for Portman Ridge Finance’s current full-year earnings is $3.15 per share. Oppenheimer also issued estimates for Portman Ridge Finance’s Q3 2022 earnings at $0.68 EPS, Q4 2022 earnings at $0.69 EPS, FY2022 earnings at $2.46 EPS, Q1 2023 earnings at $0.70 EPS, Q2 2023 earnings at $0.70 EPS, Q3 2023 earnings at $0.70 EPS, Q4 2023 earnings at $0.71 EPS and FY2023 earnings at $2.81 EPS.
Portman Ridge Finance (NASDAQ:PTMN – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.82 earnings per share for the quarter, meeting the consensus estimate of $0.82. Portman Ridge Finance had a return on equity of 15.19% and a net margin of 28.00%. During the same period in the previous year, the firm posted $1.10 earnings per share.
Separately, TheStreet cut Portman Ridge Finance from a “b-” rating to a “c+” rating in a report on Friday, May 13th.
Shares of NASDAQ PTMN opened at $23.97 on Friday. The stock has a market capitalization of $232.84 million, a PE ratio of 9.18 and a beta of 0.97. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.55 and a quick ratio of 2.55. The business has a fifty day moving average price of $22.80 and a two-hundred day moving average price of $23.74. Portman Ridge Finance has a fifty-two week low of $21.33 and a fifty-two week high of $25.97.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Stockholders of record on Tuesday, May 24th were issued a dividend of $0.63 per share. The ex-dividend date was Monday, May 23rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 10.51%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 96.55%.
Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Portman Ridge Finance by 30.6% during the 1st quarter. Advisors Asset Management Inc. now owns 83,805 shares of the company’s stock worth $2,026,000 after buying an additional 19,651 shares in the last quarter. Farmer Steven Patrick acquired a new position in shares of Portman Ridge Finance during the 2nd quarter worth $1,463,000. Clayton Partners LLC raised its holdings in shares of Portman Ridge Finance by 29.3% during the 1st quarter. Clayton Partners LLC now owns 269,468 shares of the company’s stock worth $6,516,000 after buying an additional 61,006 shares in the last quarter. Raymond James & Associates acquired a new position in Portman Ridge Finance in the 4th quarter worth about $513,000. Finally, Bulldog Investors LLP increased its holdings in Portman Ridge Finance by 2.7% in the 4th quarter. Bulldog Investors LLP now owns 48,369 shares of the company’s stock worth $1,198,000 after purchasing an additional 1,284 shares in the last quarter. 26.29% of the stock is owned by institutional investors.
About Portman Ridge Finance (Get Rating)
Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm’s business.
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