MidCap Financial Investment Corporation: Trading At Discount With 10.8% Yield
MidCap Financial Investment Corporation offers an attractive near 11% dividend yield, with shares underperforming post-merger. Third quarter results show increased investment income and net investment income, though net assets and NAV per share have declined. The company's portfolio is diversified and first lien-heavy portfolio.
MidCap Financial Investment Corporation (MFIC) Q3 2024 Earnings Call Transcript
Start Time: 08:30 January 1, 0000 9:10 AM ET MidCap Financial Investment Corporation (NASDAQ:MFIC ) Q3 2024 Earnings Call November 07, 2024, 08:30 AM ET Company Participants Howard Widra - Executive Chairman Tanner Powell - CEO Ted McNulty - President Greg Hunt - CFO Elizabeth Besen - IR Manager Conference Call Participants Kenneth Lee - RBC Capital Partners Markets Mark Hughes - Truist Matthew Hewitt - Jefferies Paul Johnson - KBW Operator Good morning and welcome to the Earnings Conference Call for the period ending September 30, 2024 for MidCap Financial Investment Corporation. At this time, all participants have been placed in a listen-only mode and the call will be open for your questions and answers session following the speakers' prepared remarks.
Compared to Estimates, MidCap Financial (MFIC) Q3 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for MidCap Financial (MFIC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
MidCap Financial Investment (MFIC) Beats Q3 Earnings Estimates
MidCap Financial Investment (MFIC) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.43 per share a year ago.
MidCap Financial Investment (MFIC) Reports Next Week: What Awaits?
MidCap Financial (MFIC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
MidCap Financial Investment: Uniquely Positioned To Capitalize On Interest Rate Cuts
MidCap Financial Investment offers a high dividend yield of 11.3%, appealing to income-oriented investors despite recent underperformance due to merger uncertainty and rising non-accrual rates. The merger with Apollo funds boosts MFIC's net assets by 44%, enhancing liquidity and positioning it for future growth despite potential short-term earnings impacts from interest rate cuts. MFIC's diverse portfolio, with 97% senior secured first lien investments, mitigates risk and supports a strong dividend coverage rate of 118.4%, ensuring distribution stability.
MidCap Financial (MFIC) Reports Q2 Earnings: What Key Metrics Have to Say
While the top- and bottom-line numbers for MidCap Financial (MFIC) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
MidCap Financial Investment (MFIC) Q2 Earnings and Revenues Top Estimates
MidCap Financial Investment (MFIC) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.44 per share a year ago.
Why MidCap Financial (MFIC) is Poised to Beat Earnings Estimates Again
MidCap Financial (MFIC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
MidCap Financial (MFIC) Upgraded to Buy: Here's Why
MidCap Financial (MFIC) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
MidCap Financial Investment (MFIC) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release
MidCap Financial (MFIC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
MidCap Financial Investment: Too Much Uncertainty To Go Long
Last year, I assigned a neutral view to MidCap Financial Investment Corporation due to potential interest rate cuts and rising corporate default rates. Despite these concerns, MFIC slightly outperformed the broader BDC market, driven by a "risk on" mode in the sector. After dissecting the fundamentals of MFIC, including the potential benefits of the merger, I still do not gain sufficient level of comfort to go long here.
