Portman Ridge Finance (NASDAQ:PTMN) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Portman Ridge Finance (NASDAQ:PTMN) posted its quarterly earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.08), Zacks reports. The firm had revenue of $14.40 million for the quarter, compared to analyst estimates of $15.14 million. Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%.

Portman Ridge Finance Price Performance

PTMN stock opened at $15.79 on Friday. The company has a fifty day moving average price of $16.85 and a 200-day moving average price of $17.42. The company has a market capitalization of $145.47 million, a P/E ratio of 42.68 and a beta of 1.02. Portman Ridge Finance has a 52-week low of $15.16 and a 52-week high of $20.84. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14.

Portman Ridge Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.91%. The ex-dividend date of this dividend is Monday, March 24th. Portman Ridge Finance’s payout ratio is -431.25%.

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.