Brokerages expect that Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) will post sales of $21.68 million for the current quarter, Zacks reports. Two analysts have made estimates for Runway Growth Finance’s earnings, with estimates ranging from $21.28 million to $22.08 million. The business is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Runway Growth Finance will report full-year sales of $94.45 million for the current year, with estimates ranging from $88.78 million to $100.12 million. For the next fiscal year, analysts expect that the firm will post sales of $143.25 million, with estimates ranging from $120.69 million to $165.80 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Runway Growth Finance.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Runway Growth Finance had a net margin of 52.70% and a return on equity of 7.47%. The company had revenue of $19.26 million during the quarter, compared to analyst estimates of $19.20 million.
Several equities research analysts recently commented on RWAY shares. B. Riley boosted 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. Hovde Group cut their price target on shares of Runway Growth Finance to $13.50 in a research report on Friday, May 20th. Zacks Investment Research cut shares of Runway Growth Finance from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Finally, LADENBURG THALM/SH SH began coverage on shares of Runway Growth Finance in a report on Friday, April 22nd. They issued a “buy” rating and a $15.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Runway Growth Finance currently has an average rating of “Buy” and an average price target of $15.33.
RWAY opened at $13.44 on Thursday. Runway Growth Finance has a 12 month low of $11.84 and a 12 month high of $14.92. The firm’s fifty day simple moving average is $13.77 and its 200 day simple moving average is $13.43. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.26.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 24th. Stockholders of record on Tuesday, May 10th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date was Monday, May 9th. This is an increase from Runway Growth Finance’s previous quarterly dividend of $0.27.
Several institutional investors have recently modified their holdings of RWAY. BlackRock Inc. bought a new stake in shares of Runway Growth Finance during the 4th quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new position in Runway Growth Finance in the 1st quarter valued at approximately $35,000. Bulldog Investors LLP bought a new position in shares of Runway Growth Finance during the fourth quarter valued at $154,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Runway Growth Finance during the first quarter valued at $161,000. Finally, Marshall Wace LLP bought a new position in shares of Runway Growth Finance during the fourth quarter valued at $161,000.
About Runway Growth Finance (Get Rating)
Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage, growth stage venture companies. It prefers to make investments in companies engaged in the technology, life sciences, electronic equipment & instruments. systems software, healthcare equipment hardware, storage & peripherals and specialized consumer service, internet retail, healthcare technology, human resource employment services, education, biotechnology, application software healthcare and information services, business services and select consumer services and products industries.
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