New Mountain Finance Corporation (NASDAQ:NMFC) Plans $0.32 Quarterly Dividend

New Mountain Finance Corporation (NASDAQ:NMFC) declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Stockholders of record on Tuesday, September 16th will be given a dividend of 0.32 per share on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Tuesday, September 16th.

New Mountain Finance has a payout ratio of 92.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect New Mountain Finance to earn $1.31 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 97.7%.

New Mountain Finance Price Performance

NMFC stock opened at $10.47 on Friday. New Mountain Finance has a one year low of $8.84 and a one year high of $12.32. The company’s fifty day moving average price is $10.51 and its 200-day moving average price is $10.52. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $1.11 billion, a PE ratio of 13.78 and a beta of 0.80.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The firm had revenue of $83.49 million for the quarter, compared to the consensus estimate of $84.57 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts anticipate that New Mountain Finance will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer set a $11.00 price target on shares of New Mountain Finance and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.75.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.