MidCap Financial Investment Co. (NASDAQ:MFIC) to Issue $0.38 Quarterly Dividend

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Tuesday, December 10th will be given a dividend of 0.38 per share on Thursday, December 26th. This represents a $1.52 dividend on an annualized basis and a yield of 11.26%. The ex-dividend date of this dividend is Tuesday, December 10th.

MidCap Financial Investment has a payout ratio of 94.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect MidCap Financial Investment to earn $1.56 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 97.4%.

MidCap Financial Investment Trading Down 1.1 %

NASDAQ:MFIC traded down $0.15 during trading hours on Friday, reaching $13.50. 48,863 shares of the company were exchanged, compared to its average volume of 320,410. MidCap Financial Investment has a 52-week low of $12.26 and a 52-week high of $16.36. The stock has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $14.44. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 8.75 and a beta of 1.50. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.02 and a quick ratio of 3.02.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, analysts predict that MidCap Financial Investment will post 1.72 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on MFIC shares. Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Monday, August 5th. Finally, Wells Fargo & Company decreased their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, MidCap Financial Investment currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.86.

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.