Brokerages Expect New Mountain Finance Corp. (NYSE:NMFC) to Post $0.35 Earnings Per Share
Brokerages forecast that New Mountain Finance Corp. (NYSE:NMFC) will announce $0.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for New Mountain Finance’s earnings, with estimates ranging from $0.34 to $0.35. New Mountain Finance reported earnings of $0.32 per share in the same quarter last year, which suggests a positive year over year growth rate of 9.4%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, November 6th.
On average, analysts expect that New Mountain Finance will report full year earnings of $1.39 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.40. For the next year, analysts expect that the business will report earnings of $1.40 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for New Mountain Finance.
New Mountain Finance (NYSE:NMFC) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. New Mountain Finance had a net margin of 36.54% and a return on equity of 10.47%. The firm had revenue of $66.47 million for the quarter, compared to analysts’ expectations of $64.98 million.
Shares of NYSE:NMFC traded down $0.04 during trading on Wednesday, reaching $13.44. 230,035 shares of the stock traded hands, compared to its average volume of 410,299. The stock has a 50-day moving average of $13.50 and a two-hundred day moving average of $13.78. New Mountain Finance has a 52-week low of $12.06 and a 52-week high of $14.38. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $1.18 billion, a P/E ratio of 9.74 and a beta of 0.53.
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.12%. The ex-dividend date of this dividend was Thursday, September 12th. New Mountain Finance’s payout ratio is 98.55%.
In related news, CFO Shiraz Kajee bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $13.38 per share, for a total transaction of $33,450.00. Following the completion of the acquisition, the chief financial officer now owns 7,500 shares of the company’s stock, valued at approximately $100,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Kline bought 7,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $13.52 per share, for a total transaction of $101,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 22,200 shares of company stock worth $297,792. Corporate insiders own 10.46% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Dimension Capital Management LLC boosted its stake in shares of New Mountain Finance by 43.4% during the 2nd quarter. Dimension Capital Management LLC now owns 1,570,752 shares of the investment management company’s stock worth $21,947,000 after acquiring an additional 475,629 shares during the last quarter. Round Table Services LLC boosted its stake in shares of New Mountain Finance by 4.9% during the 2nd quarter. Round Table Services LLC now owns 1,533,784 shares of the investment management company’s stock worth $21,427,000 after acquiring an additional 71,950 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of New Mountain Finance by 5.2% during the 2nd quarter. Bank of Montreal Can now owns 794,000 shares of the investment management company’s stock worth $11,092,000 after acquiring an additional 39,000 shares during the last quarter. UBS Group AG boosted its stake in shares of New Mountain Finance by 5.1% during the 2nd quarter. UBS Group AG now owns 707,839 shares of the investment management company’s stock worth $9,889,000 after acquiring an additional 34,210 shares during the last quarter. Finally, Cliffwater LLC boosted its stake in shares of New Mountain Finance by 10.1% during the 2nd quarter. Cliffwater LLC now owns 689,954 shares of the investment management company’s stock worth $9,639,000 after acquiring an additional 63,537 shares during the last quarter. Institutional investors own 34.66% of the company’s stock.
About New Mountain Finance
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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