MidCap Financial Investment Co. will post earnings of $0.37 per share in the third quarter of 2023, according to forecasts from Jefferies Financial Group (NASDAQ:MFIC)
MidCap Financial Investment Co. (NASDAQ: MFIC – Get a rating) – Research analysts at Jefferies Financial Group raised their earnings per share estimates for the third quarter of 2023 for shares of MidCap Financial Investment in a report released Thursday, November 3. Jefferies Financial Group analyst K. Joseph now expects the company to earn $0.37 per share for the quarter, up from his previous forecast of $0.35. MidCap Financial Investment‘s current annual earnings consensus estimate is $1.48 per share. Jefferies Financial Group also released estimates for MidCap Financial Investment Q4 2023 earnings at $0.41 EPS, FY2023 earnings at $1.50 EPS, Q1 2024 earnings at $0.41 EPS , Q2 2024 earnings at $0.42 EPS, Q3 2024 earnings at $0.42 EPS and FY2024 earnings at $1.67 EPS.
Other stock analysts have also released reports on the company. Wells Fargo & Company lowered its price target on MidCap Financial Investment from $13.50 to $12.50 and set an “overweight” rating on the stock in a Monday, October 24 research report. Citigroup lowered its target price on shares of MidCap Financial Investment from $13.00 to $12.00 in a report released Sunday. Finally, Royal Bank of Canada lowered its target price on MidCap Financial Investment from $13.00 to $12.00 and set a “sector performance” rating on the stock in a research note on Friday.
MidCap Financial Investment Stock Up 7.2%
MidCap Financial Investment Stocks opened at $11.86 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt ratio of 1.62. The company has a market capitalization of $753.34 million, a P/E ratio of 16.25 and a beta of 1.59. The company’s fifty-day moving average is $11.48. MidCap Financial Investment has a 12-month low of $10.01 and a 12-month high of $13.99.
MidCap Financial Investment Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5. Investors of record on Monday, December 19 will receive a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a yield of 12.48%. This is a boost from MidCap Financial Investment’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, December 16. MidCap Financial Investment’s payout ratio is currently 175.34%.
About MidCap Financial Investment
Apollo Investment Corporation is a non-diversified, externally managed closed-end business development and investment company. It is elected to be treated as a business development company (BDC) under the Investment Companies Act 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions , recapitalizations, growth capital, refinancing and middle market private companies.
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