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Wall Street analysts expect Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) to announce $19.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Runway Growth Finance’s earnings, with estimates ranging from $18.96 million to $19.44 million. The firm is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.
On average, analysts expect that Runway Growth Finance will report full year sales of $92.26 million for the current fiscal year, with estimates ranging from $89.75 million to $94.77 million. For the next fiscal year, analysts forecast that the firm will post sales of $135.60 million, with estimates ranging from $120.56 million to $150.65 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Runway Growth Finance.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Runway Growth Finance had a net margin of 63.93% and a return on equity of 7.32%.
RWAY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Runway Growth Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 2nd. B. Riley raised their price objective on shares of Runway Growth Finance from $15.00 to $15.50 and gave the company a “buy” rating in a research report on Monday, February 28th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Runway Growth Finance in a research report on Friday, April 22nd. They issued a “buy” rating and a $15.50 price objective for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.33.
Shares of NASDAQ:RWAY opened at $14.37 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.12 and a quick ratio of 1.12. Runway Growth Finance has a 52 week low of $11.84 and a 52 week high of $14.92. The firm has a 50-day moving average price of $13.70.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 7.52%. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 7th.
In other news, CEO R David Spreng bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were purchased at an average price of $12.35 per share, for a total transaction of $61,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc bought 20,800 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $272,480.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 219,498 shares of company stock valued at $2,285,838,374.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Runway Growth Finance during the fourth quarter worth about $25,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Runway Growth Finance during the first quarter worth about $161,000. Bulldog Investors LLP acquired a new stake in Runway Growth Finance during the fourth quarter worth about $154,000. Marshall Wace LLP acquired a new stake in Runway Growth Finance during the fourth quarter worth about $161,000. Finally, Geode Capital Management LLC acquired a new stake in Runway Growth Finance during the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 0.05% of the company’s stock.
Runway Growth Finance Company Profile (Get Rating)
Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late/growth stage venture companies.
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