Portman Ridge Finance (NASDAQ:PTMN) Announces Earnings Results, Misses Estimates By $0.08 EPS

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

Portman Ridge Finance Price Performance

Shares of NASDAQ PTMN opened at $15.79 on Friday. Portman Ridge Finance has a twelve month low of $15.16 and a twelve month high of $20.84. The firm has a fifty day simple moving average of $16.85 and a 200 day simple moving average of $17.42. The company has a market capitalization of $145.47 million, a PE ratio of 42.68 and a beta of 1.02. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41.

Portman Ridge Finance Cuts Dividend

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