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

Portman Ridge Finance (NASDAQ:PTMN) released its quarterly earnings data 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 company had revenue of $14.40 million during the quarter, compared to analysts’ expectations of $15.14 million. Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%.

Portman Ridge Finance Trading Down 4.0 %

PTMN opened at $15.79 on Friday. Portman Ridge Finance has a 52 week low of $15.16 and a 52 week high of $20.84. The company has a market capitalization of $145.47 million, a P/E ratio of 42.68 and a beta of 1.02. The stock’s fifty day moving average is $16.85 and its two-hundred day moving average is $17.42. 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 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. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.88 annualized dividend and a yield of 11.91%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently -431.25%.

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.