Runway Growth Finance (NASDAQ:RWAY) Announces Quarterly Earnings Results

Runway Growth Finance (NASDAQ:RWAY) announced its quarterly earnings results on Monday. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06, Zacks reports. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%.

Runway Growth Finance Trading Up 3.4%

Runway Growth Finance stock traded up $0.31 during midday trading on Monday, reaching $9.43. The stock had a trading volume of 426,452 shares, compared to its average volume of 322,080. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average of $9.83 and a 200 day moving average of $10.52. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $12.17. The firm has a market cap of $352.18 million, a price-to-earnings ratio of 9.07 and a beta of 0.63.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 14.00%. The ex-dividend date is Monday, May 19th. Runway Growth Finance’s dividend payout ratio (DPR) is currently 69.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Runway Growth Finance from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on shares of Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Compass Point boosted their price target on shares of Runway Growth Finance from $11.50 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, UBS Group decreased their price target on shares of Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Runway Growth Finance has a consensus rating of “Moderate Buy” and an average price target of $11.08.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.