Portman Ridge Finance (NASDAQ:PTMN) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Portman Ridge Finance (NASDAQ:PTMN) posted its quarterly earnings results on Thursday. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01, Zacks reports. The company had revenue of $16.34 million during the quarter, compared to the consensus estimate of $16.68 million. Portman Ridge Finance had a return on equity of 15.21% and a net margin of 21.81%. During the same period last year, the business earned $0.83 EPS.

Portman Ridge Finance Trading Down 2.4 %

Shares of NASDAQ PTMN traded down $0.46 during midday trading on Friday, hitting $18.65. The stock had a trading volume of 77,732 shares, compared to its average volume of 39,022. Portman Ridge Finance has a fifty-two week low of $16.27 and a fifty-two week high of $21.03. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market cap of $173.56 million, a P/E ratio of 11.17 and a beta of 1.01. The company’s 50-day simple moving average is $19.44 and its 200 day simple moving average is $19.22.

Portman Ridge Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be given a $0.69 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $2.76 annualized dividend and a yield of 14.80%. Portman Ridge Finance’s payout ratio is 165.27%.

Portman Ridge Finance Company Profile

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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.