New Mountain Finance Co. (NASDAQ:NMFC) Expected to Announce Earnings of $0.30 Per Share
Equities research analysts expect New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) to post earnings of $0.30 per share for the current quarter, Zacks reports. Two analysts have made estimates for New Mountain Finance’s earnings. New Mountain Finance also reported earnings of $0.30 per share in the same quarter last year. The business is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that New Mountain Finance will report full-year earnings of $1.20 per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of $1.21 per share, with EPS estimates ranging from $1.20 to $1.23. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow New Mountain Finance.
NMFC has been the topic of several research reports. Hovde Group dropped their price objective on shares of New Mountain Finance to $12.50 in a report on Friday, May 20th. Janney Montgomery Scott started coverage on shares of New Mountain Finance in a report on Monday, February 7th. They issued a “buy” rating for the company.
In related news, CAO Adam Weinstein acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average price of $12.50 per share, for a total transaction of $312,500.00. Following the acquisition, the chief accounting officer now directly owns 366,398 shares of the company’s stock, valued at approximately $4,579,975. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laura Holson Boswerger bought 4,000 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were acquired at an average cost of $12.49 per share, for a total transaction of $49,960.00. Following the transaction, the chief operating officer now directly owns 23,124 shares in the company, valued at approximately $288,818.76. The disclosure for this purchase can be found here. Insiders acquired 66,100 shares of company stock worth $835,668 over the last quarter. Insiders own 10.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Mutual Advisors LLC grew its position in New Mountain Finance by 3.1% during the 1st quarter. Mutual Advisors LLC now owns 25,902 shares of the company’s stock worth $359,000 after purchasing an additional 787 shares during the last quarter. National Asset Management Inc. lifted its stake in New Mountain Finance by 9.1% during the 3rd quarter. National Asset Management Inc. now owns 11,929 shares of the company’s stock valued at $159,000 after acquiring an additional 1,000 shares during the period. Advisory Services Network LLC lifted its stake in New Mountain Finance by 4.9% during the 1st quarter. Advisory Services Network LLC now owns 21,390 shares of the company’s stock valued at $296,000 after acquiring an additional 1,000 shares during the period. Janney Montgomery Scott LLC lifted its stake in New Mountain Finance by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 95,163 shares of the company’s stock valued at $1,304,000 after acquiring an additional 1,090 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in New Mountain Finance by 1.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 77,885 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,357 shares during the period. 30.15% of the stock is currently owned by hedge funds and other institutional investors.
NMFC traded down $0.02 during trading on Tuesday, hitting $13.06. 5,967 shares of the stock traded hands, compared to its average volume of 362,213. The business has a 50 day moving average price of $13.25 and a 200 day moving average price of $13.43. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 7.42 and a beta of 1.24. New Mountain Finance has a twelve month low of $12.26 and a twelve month high of $14.11. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.43 and a quick ratio of 1.43.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 9.19%. New Mountain Finance’s payout ratio is 68.18%.
New Mountain Finance Company Profile (Get Rating)
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.
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