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

Portman Ridge Finance (NASDAQ:PTMN) released its earnings results on Thursday. The company reported $0.60 EPS 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 company had revenue of $14.40 million for the quarter, compared to analysts’ expectations of $15.14 million.

Portman Ridge Finance Stock Down 4.0 %

Shares of NASDAQ PTMN opened at $15.79 on Friday. Portman Ridge Finance has a 12-month low of $15.16 and a 12-month high of $20.84. The stock has a market cap of $145.47 million, a PE ratio of 42.68 and a beta of 1.02. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $16.85 and a 200 day moving average of $17.42.

Portman Ridge Finance Cuts Dividend

The firm 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 dividend of $0.47 per share. The ex-dividend date is Monday, March 24th. This represents a $1.88 annualized dividend and a yield of 11.91%. Portman Ridge Finance’s dividend payout ratio is presently -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.