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

Portman Ridge Finance (NASDAQ:PTMN) announced its quarterly earnings data 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. Portman Ridge Finance had a net margin of 21.81% and a return on equity of 15.21%. The business had revenue of $16.34 million for the quarter, compared to analysts’ expectations of $16.68 million. During the same quarter in the prior year, the company earned $0.83 earnings per share.

Portman Ridge Finance Stock Down 2.4 %

Shares of PTMN traded down $0.46 on Friday, hitting $18.65. 77,732 shares of the stock traded hands, compared to its average volume of 39,022. Portman Ridge Finance has a one year low of $16.27 and a one year high of $21.03. The company has a market capitalization of $173.56 million, a PE ratio of 11.17 and a beta of 1.01. The business has a 50 day simple moving average of $19.44 and a 200 day simple moving average of $19.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.70 and a current ratio of 1.70.

Portman Ridge Finance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be issued 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 dividend payout ratio (DPR) is presently 165.27%.

About Portman Ridge Finance

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.