Runway Growth Finance Corp. (NASDAQ:RWAY) Declares $0.03 — Dividend

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a — dividend on Friday, March 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.03 per share on Monday, April 14th. This represents a yield of 15.1%. The ex-dividend date of this dividend is Monday, March 31st.

Runway Growth Finance has raised its dividend payment by an average of 85.7% annually over the last three years. Runway Growth Finance has a dividend payout ratio of 98.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Runway Growth Finance to earn $1.59 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 100.6%.

Runway Growth Finance Stock Performance

Runway Growth Finance stock opened at $10.59 on Friday. The company has a fifty day moving average price of $11.31 and a two-hundred day moving average price of $10.76. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.50. The company has a market cap of $395.50 million, a PE ratio of 10.18 and a beta of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. The firm had revenue of $33.78 million for the quarter, compared to the consensus estimate of $36.10 million. Research analysts expect that Runway Growth Finance will post 1.67 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RWAY. Wells Fargo & Company lifted their price target on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.65.

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.