$53.11 Million in Sales Expected for New Mountain Finance Corp. (NMFC) This Quarter

Equities research analysts forecast that New Mountain Finance Corp. (NYSE:NMFC) will post sales of $53.11 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for New Mountain Finance’s earnings. The lowest sales estimate is $51.46 million and the highest is $54.79 million. New Mountain Finance posted sales of $50.02 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The company is expected to issue its next quarterly earnings results on Tuesday, August 14th.

On average, analysts expect that New Mountain Finance will report full-year sales of $201.03 million for the current year, with estimates ranging from $184.97 million to $220.11 million. For the next fiscal year, analysts anticipate that the business will report sales of $221.17 million per share, with estimates ranging from $213.00 million to $232.55 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Monday, May 7th. The investment management company reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $52.89 million for the quarter, compared to analysts’ expectations of $50.86 million. New Mountain Finance had a return on equity of 10.27% and a net margin of 49.57%.

Several analysts have recently weighed in on NMFC shares. Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the stock a “hold” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, March 21st. ValuEngine cut New Mountain Finance from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, TheStreet cut New Mountain Finance from a “b” rating to a “c+” rating in a report on Wednesday, April 11th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. New Mountain Finance presently has a consensus rating of “Hold” and an average price target of $15.00.

In related news, Director Alfred F. Hurley, Jr. bought 5,000 shares of New Mountain Finance stock in a transaction that occurred on Friday, March 16th. The shares were acquired at an average cost of $13.04 per share, for a total transaction of $65,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.27% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new stake in New Mountain Finance in the fourth quarter valued at approximately $210,000. LPL Financial LLC boosted its holdings in New Mountain Finance by 23.7% in the fourth quarter. LPL Financial LLC now owns 21,846 shares of the investment management company’s stock valued at $296,000 after acquiring an additional 4,191 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in New Mountain Finance in the fourth quarter valued at approximately $2,954,000. Virtu Financial LLC bought a new stake in New Mountain Finance in the fourth quarter valued at approximately $238,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in New Mountain Finance by 211.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 265,216 shares of the investment management company’s stock valued at $3,594,000 after acquiring an additional 180,026 shares during the last quarter. Institutional investors and hedge funds own 38.85% of the company’s stock.

Shares of NYSE:NMFC traded down $0.15 during midday trading on Friday, hitting $13.50. 236,100 shares of the stock were exchanged, compared to its average volume of 322,968. The stock has a market cap of $1.06 billion, a P/E ratio of 10.47 and a beta of 0.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.94. New Mountain Finance has a 12 month low of $12.05 and a 12 month high of $14.70.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.07%. The ex-dividend date is Thursday, June 14th. New Mountain Finance’s payout ratio is presently 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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