New Mountain Finance Corp. (NMFC) Expected to Announce Earnings of $0.34 Per Share
Wall Street analysts expect New Mountain Finance Corp. (NYSE:NMFC) to post earnings per share (EPS) of $0.34 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for New Mountain Finance’s earnings. New Mountain Finance also posted earnings per share of $0.34 during the same quarter last year. The company is expected to issue its next quarterly earnings report on Monday, May 14th.
On average, analysts expect that New Mountain Finance will report full year earnings of $1.38 per share for the current financial year, with EPS estimates ranging from $1.36 to $1.39. For the next fiscal year, analysts forecast that the company will post earnings of $1.40 per share, with EPS estimates ranging from $1.37 to $1.42. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow New Mountain Finance.
Separately, Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the stock a “hold” rating in a research report on Thursday, March 1st.
Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc grew its position in New Mountain Finance by 222.3% during the 4th quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock worth $140,000 after acquiring an additional 7,115 shares during the last quarter. Kovack Advisors Inc. bought a new position in New Mountain Finance during the 4th quarter worth approximately $146,000. Alliancebernstein L.P. bought a new position in New Mountain Finance during the 2nd quarter worth approximately $160,000. OxFORD Asset Management LLP purchased a new stake in New Mountain Finance in the 3rd quarter worth approximately $161,000. Finally, Global X MANAGEMENT CO LLC lifted its holdings in New Mountain Finance by 48.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 13,461 shares of the investment management company’s stock worth $192,000 after buying an additional 4,404 shares during the period. Institutional investors and hedge funds own 39.97% of the company’s stock.
New Mountain Finance (NMFC) opened at $13.55 on Wednesday. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.84. New Mountain Finance has a 1 year low of $12.05 and a 1 year high of $15.00. The stock has a market capitalization of $1,040.00, a P/E ratio of 9.82 and a beta of 0.58.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.36 annualized dividend and a yield of 10.04%. New Mountain Finance’s payout ratio is 98.55%.
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About New Mountain Finance
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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