Analysts expect New Mountain Finance (NYSE:NMFC) to post sales of $50.86 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for New Mountain Finance’s earnings. The lowest sales estimate is $50.15 million and the highest is $51.58 million. New Mountain Finance reported sales of $43.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.4%. The business is scheduled to issue its next earnings report after the market closes on Monday, May 7th.
According to Zacks, analysts expect that New Mountain Finance will report full year sales of $209.85 million for the current year, with estimates ranging from $205.41 million to $213.04 million. For the next year, analysts anticipate that the business will report sales of $219.35 million per share, with estimates ranging from $210.34 million to $224.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow New Mountain Finance.
New Mountain Finance (NYSE:NMFC) last released its quarterly earnings data on Wednesday, February 28th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $48.94 million. New Mountain Finance had a net margin of 55.29% and a return on equity of 10.26%.
A number of equities analysts recently issued reports on NMFC shares. Zacks Investment Research upgraded shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 21st. TheStreet cut shares of New Mountain Finance from a “b” rating to a “c+” rating in a research report on Wednesday, April 11th. ValuEngine cut shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the stock a “hold” rating in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.00.
In other New Mountain Finance news, CAO Adam Weinstein purchased 16,255 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was purchased at an average cost of $13.14 per share, for a total transaction of $213,590.70. Following the transaction, the chief accounting officer now owns 72,949 shares in the company, valued at approximately $958,549.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kurt Wolfgruber purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was acquired at an average price of $13.19 per share, with a total value of $131,900.00. Following the completion of the transaction, the director now owns 43,902 shares in the company, valued at approximately $579,067.38. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 557,831 shares of company stock valued at $7,449,774. Corporate insiders own 9.39% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased its position in New Mountain Finance by 222.3% in the 4th quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock valued at $140,000 after acquiring an additional 7,115 shares during the period. Kovack Advisors Inc. acquired a new stake in shares of New Mountain Finance during the fourth quarter worth $146,000. OxFORD Asset Management LLP acquired a new stake in shares of New Mountain Finance during the third quarter worth $161,000. Cubist Systematic Strategies LLC acquired a new stake in shares of New Mountain Finance during the third quarter worth $201,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of New Mountain Finance during the fourth quarter worth $210,000. Hedge funds and other institutional investors own 39.98% of the company’s stock.
NMFC stock opened at $13.45 on Thursday. The company has a market cap of $1,021.33, a P/E ratio of 10.43 and a beta of 0.54. New Mountain Finance has a 1 year low of $12.05 and a 1 year high of $15.00. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.84.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.11%. The ex-dividend date was Wednesday, March 14th. New Mountain Finance’s dividend payout ratio (DPR) is currently 105.43%.
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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