MSC Income Fund Plans Monthly Dividend of $0.11 (NYSE:MSIF)

Key Points

• MSC Income Fund declared a monthly dividend of $0.11 per share, payable October 9 to shareholders of record on October 2. The dividend implies an annualized yield of approximately 11.2%.
• MSIF shares recently traded at $11.77, within a 52-week range of $10.80 to $15.14, while the company’s latest quarterly EPS of $0.33 fell short of analysts’ $0.38 consensus estimate.
• Analyst sentiment remains moderately positive, with an average price target of $13.88 and a mix of Strong Buy, Buy, and Hold ratings; recent targets range from $13.00 to $15.00.

MSC Income Fund (NYSE:MSIF - Get Free Report) announced a monthly dividend on Wednesday, August 5th. Stockholders of record on Friday, October 2nd will be paid a dividend of 0.11 per share on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend is Friday, October 2nd.

MSC Income Fund Price Performance

MSIF stock traded up $0.30 during mid-day trading on Thursday, reaching $11.77. 407,938 shares of the stock traded hands, compared to its average volume of 324,237. The company has a 50-day simple moving average of $11.58. MSC Income Fund has a one year low of $10.80 and a one year high of $15.14. The firm has a market cap of $555.13 million and a PE ratio of -3,568.96.

MSC Income Fund (NYSE:MSIF - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05).

Analysts Set New Price Targets

MSIF has been the topic of several recent research reports. UBS Group dropped their price objective on shares of MSC Income Fund from $14.00 to $13.50 and set a "neutral" rating on the stock in a report on Monday, May 18th. Truist Financial decreased their target price on MSC Income Fund from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada reduced their target price on MSC Income Fund from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. Zacks Research upgraded shares of MSC Income Fund from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, B. Riley Financial began coverage on MSC Income Fund in a report on Thursday, June 18th. They issued a "buy" rating and a $13.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.88.

MSC Income Fund NYSE: MSIF is a publicly traded investment company listed on the New York Stock Exchange that aims to provide shareholders with current income and the potential for capital appreciation through a diversified portfolio of income-producing assets. The fund offers investors a single vehicle to gain exposure to a variety of yield-generating securities managed under a unified investment strategy.

The fund’s portfolio strategy emphasizes a broad approach to income generation, with allocations that can include fixed-income instruments and other income-oriented securities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source