CM Finance Inc (CMFN) to Post FY2018 Earnings of $1.01 Per Share, Oppenheimer Holdings Forecasts
CM Finance Inc (NASDAQ:CMFN) – Equities researchers at Oppenheimer Holdings raised their FY2018 EPS estimates for shares of CM Finance in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the investment management company will post earnings of $1.01 per share for the year, up from their previous estimate of $1.00. Oppenheimer Holdings also issued estimates for CM Finance’s Q4 2018 earnings at $0.26 EPS.
Separately, Zacks Investment Research upgraded CM Finance from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday.
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Shares of CM Finance (CMFN) opened at 9.75 on Friday. CM Finance has a 52-week low of $8.50 and a 52-week high of $10.80. The company’s 50-day moving average price is $10.05 and its 200-day moving average price is $10.20.
CM Finance (NASDAQ:CMFN) last posted its quarterly earnings data on Wednesday, September 6th. The investment management company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $7.19 million during the quarter, compared to analysts’ expectations of $7.40 million. CM Finance had a return on equity of 9.42% and a net margin of 76.03%.
A number of hedge funds have recently modified their holdings of CMFN. KCG Holdings Inc. purchased a new position in CM Finance in the 1st quarter worth $133,000. Eagle Global Advisors LLC raised its stake in CM Finance by 30.0% in the 1st quarter. Eagle Global Advisors LLC now owns 22,717 shares of the investment management company’s stock worth $231,000 after acquiring an additional 5,240 shares during the last quarter. Stifel Financial Corp raised its stake in CM Finance by 0.7% in the 1st quarter. Stifel Financial Corp now owns 36,556 shares of the investment management company’s stock worth $367,000 after acquiring an additional 251 shares during the last quarter. Stephens Inc. AR raised its stake in CM Finance by 2.8% in the 1st quarter. Stephens Inc. AR now owns 48,218 shares of the investment management company’s stock worth $489,000 after acquiring an additional 1,328 shares during the last quarter. Finally, Caxton Corp raised its stake in CM Finance by 3.6% in the 2nd quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock worth $551,000 after acquiring an additional 1,898 shares during the last quarter. Institutional investors own 44.11% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 8th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.00 dividend on an annualized basis and a yield of 10.26%. CM Finance’s dividend payout ratio (DPR) is 58.14%.
CM Finance Company Profile
CM Finance Inc is an externally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that invests primarily in the debt of the United States middle-market companies. The Company’s primary investment objective is to maximize total return to stockholders in the form of current income and capital appreciation by investing in debt and related equity of privately held lower middle-market companies.
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