New Mountain Finance Corporation (NMFC) Expected to Announce Quarterly Sales of $48.70 Million
Equities analysts forecast that New Mountain Finance Corporation (NYSE:NMFC) will announce $48.70 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for New Mountain Finance Corporation’s earnings, with the lowest sales estimate coming in at $46.29 million and the highest estimate coming in at $50.33 million. New Mountain Finance Corporation posted sales of $41.83 million during the same quarter last year, which would indicate a positive year over year growth rate of 16.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that New Mountain Finance Corporation will report full-year sales of $48.70 million for the current financial year, with estimates ranging from $181.90 million to $194.16 million. For the next fiscal year, analysts expect that the company will report sales of $208.27 million per share, with estimates ranging from $194.10 million to $217.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for New Mountain Finance Corporation.
New Mountain Finance Corporation (NYSE:NMFC) last announced its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. New Mountain Finance Corporation had a return on equity of 10.15% and a net margin of 65.22%. The company had revenue of $50.02 million for the quarter, compared to analyst estimates of $47.66 million.
NMFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance Corporation and gave the stock a “hold” rating in a report on Wednesday, May 31st. Zacks Investment Research raised New Mountain Finance Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, BidaskClub downgraded New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.
New Mountain Finance Corporation (NMFC) opened at 13.70 on Monday. The company’s 50-day moving average price is $14.20 and its 200 day moving average price is $14.50. New Mountain Finance Corporation has a 12 month low of $13.05 and a 12 month high of $15.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 9.93%. The ex-dividend date is Thursday, September 14th. New Mountain Finance Corporation’s dividend payout ratio (DPR) is 86.62%.
Institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC lifted its holdings in shares of New Mountain Finance Corporation by 49.7% in the 1st quarter. Global X Management Co. LLC now owns 9,057 shares of the investment management company’s stock valued at $135,000 after purchasing an additional 3,007 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of New Mountain Finance Corporation in the 1st quarter valued at about $148,000. Airain ltd purchased a new stake in shares of New Mountain Finance Corporation in the 2nd quarter valued at about $149,000. Cetera Investment Advisers purchased a new stake in shares of New Mountain Finance Corporation in the 2nd quarter valued at about $153,000. Finally, Financial Counselors Inc. purchased a new stake in shares of New Mountain Finance Corporation in the 2nd quarter valued at about $155,000. 40.75% of the stock is owned by institutional investors and hedge funds.
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About New Mountain Finance Corporation
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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