Runway Growth Finance (NASDAQ:RWAY) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Runway Growth Finance (NASDAQ:RWAY) posted its quarterly earnings data on Monday. The company reported $0.42 earnings per share 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%

RWAY stock traded up $0.31 during mid-day trading on Monday, reaching $9.43. 427,039 shares of the stock traded hands, compared to its average volume of 322,083. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $12.17. The company has a market cap of $352.18 million, a P/E ratio of 9.07 and a beta of 0.63. The stock’s fifty day moving average is $9.83 and its 200-day moving average is $10.52.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be issued 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 payout ratio is 69.11%.

Wall Street Analyst Weigh In

RWAY has been the subject of several research analyst reports. UBS Group reduced their price objective on shares of Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Compass Point upped their price target on shares of Runway Growth Finance from $11.50 to $12.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company cut their price target on shares of Runway Growth Finance from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.08.

About Runway Growth Finance

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.