MidCap Financial Investment Corporation (MFIC) To Go Ex-Dividend on September 9th

MidCap Financial Investment Corporation (NASDAQ:MFIC) declared a quarterly dividend on Tuesday, August 5th, Wall Street Journal reports. Stockholders of record on Tuesday, September 9th will be given a dividend of 0.38 per share on Thursday, September 25th. This represents a c) dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date of this dividend is Tuesday, September 9th.

MidCap Financial Investment has a payout ratio of 101.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect MidCap Financial Investment to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 95.0%.

MidCap Financial Investment Stock Performance

NASDAQ MFIC opened at $13.03 on Friday. The stock has a market cap of $1.22 billion, a PE ratio of 12.06 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. MidCap Financial Investment has a twelve month low of $10.18 and a twelve month high of $14.74. The stock has a fifty day simple moving average of $12.93 and a 200-day simple moving average of $12.68.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Monday, August 11th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $81.25 million during the quarter, compared to analysts’ expectations of $81.70 million. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. Equities analysts anticipate that MidCap Financial Investment will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their price target on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $13.00 target price on shares of MidCap Financial Investment in a research note on Monday, August 25th. Finally, Keefe, Bruyette & Woods lowered MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 target price on the stock. in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, MidCap Financial Investment has a consensus rating of “Hold” and a consensus target price of $13.30.

About MidCap Financial Investment

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.