CM Finance Inc (CMFN) Expected to Post Quarterly Sales of $7.89 Million
Wall Street analysts predict that CM Finance Inc (NASDAQ:CMFN) will post sales of $7.89 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CM Finance’s earnings. The highest sales estimate is $7.90 million and the lowest is $7.88 million. CM Finance posted sales of $9.15 million in the same quarter last year, which suggests a negative year-over-year growth rate of 13.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that CM Finance will report full year sales of $7.89 million for the current financial year, with estimates ranging from $31.70 million to $32.37 million. For the next fiscal year, analysts forecast that the company will post sales of $36.22 million per share. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for CM Finance.
CM Finance (NASDAQ:CMFN) last announced its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The firm had revenue of $6.73 million during the quarter, compared to analysts’ expectations of $7.48 million. CM Finance had a net margin of 74.32% and a return on equity of 8.75%.
Separately, Zacks Investment Research raised CM Finance from a “sell” rating to a “hold” rating in a research report on Monday, July 17th.
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In other CM Finance news, CEO Michael Mauer purchased 4,000 shares of the stock in a transaction on Monday, September 11th. The shares were bought at an average cost of $9.61 per share, with a total value of $38,440.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.79% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Ares Management LLC boosted its stake in shares of CM Finance by 55.2% during the 2nd quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock worth $1,056,000 after acquiring an additional 37,596 shares in the last quarter. Eagle Global Advisors LLC lifted its stake in CM Finance by 19.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 27,217 shares of the investment management company’s stock valued at $272,000 after buying an additional 4,500 shares in the last quarter. Stephens Inc. AR lifted its stake in CM Finance by 2.0% in the 2nd quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock valued at $492,000 after buying an additional 947 shares in the last quarter. KCG Holdings Inc. purchased a new position in CM Finance in the 1st quarter valued at about $133,000. Finally, Caxton Corp lifted 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 valued at $551,000 after buying an additional 1,898 shares in the last quarter. 43.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of CM Finance (NASDAQ CMFN) opened at $8.40 on Tuesday. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $119.11, a price-to-earnings ratio of 8.06 and a beta of 1.37. CM Finance has a twelve month low of $8.40 and a twelve month high of $10.80.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.90%. The ex-dividend date of this dividend is Thursday, December 14th. CM Finance’s payout ratio is 60.98%.
About CM Finance
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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