Zacks: Brokerages Expect Runway Growth Finance Corp. (NASDAQ:RWAY) Will Announce Quarterly Sales of $21.68 Million

Analysts expect Runway Growth Finance Corp. (NASDAQ:RWAYGet Rating) to report sales of $21.68 million for the current quarter, Zacks reports. Two analysts have made estimates for Runway Growth Finance’s earnings, with the highest sales estimate coming in at $22.08 million and the lowest estimate coming in at $21.28 million. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Runway Growth Finance will report full-year sales of $94.45 million for the current fiscal year, with estimates ranging from $88.78 million to $100.12 million. For the next financial year, analysts anticipate that the business will post sales of $143.25 million, with estimates ranging from $120.69 million to $165.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Runway Growth Finance.

Runway Growth Finance (NASDAQ:RWAYGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $19.26 million during the quarter, compared to analysts’ expectations of $19.20 million. Runway Growth Finance had a net margin of 52.70% and a return on equity of 7.71%.

RWAY has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Runway Growth Finance from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. B. Riley upped their price target on shares of Runway Growth Finance from $15.00 to $15.50 and gave the company a “buy” rating in a report on Monday, February 28th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Runway Growth Finance in a report on Friday, April 22nd. They issued a “buy” rating and a $15.50 price target for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.44.

Shares of NASDAQ RWAY opened at $12.86 on Friday. The firm has a 50 day moving average price of $13.89 and a 200 day moving average price of $13.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.12 and a current 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 also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 24th. Stockholders of record on Tuesday, May 10th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date is Monday, May 9th. This is a positive change from Runway Growth Finance’s previous quarterly dividend of $0.27.

In other news, CEO R David Spreng purchased 5,000 shares of the company’s stock in a transaction on Thursday, March 10th. The shares were purchased at an average cost of $12.35 per share, with a total value of $61,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ocm Growth Holdings Llc purchased 11,672 shares of the company’s stock in a transaction on Monday, February 28th. The shares were purchased at an average cost of $12.73 per share, for a total transaction of $148,584.56. The disclosure for this purchase can be found here. In the last three months, insiders bought 54,081 shares of company stock worth $701,276.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new stake in Runway Growth Finance during the fourth quarter worth $2,885,000. Mariner Investment Group LLC bought a new position in shares of Runway Growth Finance in the fourth quarter valued at about $546,000. B. Riley Wealth Management Inc. bought a new position in shares of Runway Growth Finance in the first quarter valued at about $213,000. Catalyst Capital Advisors LLC bought a new position in shares of Runway Growth Finance in the first quarter valued at about $35,000. Finally, Edge Capital Group LLC bought a new position in shares of Runway Growth Finance in the first quarter valued at about $911,000.

About Runway Growth Finance (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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Earnings History and Estimates for Runway Growth Finance (NASDAQ:RWAY)

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