Zacks: Analysts Expect New Mountain Finance Corp. (NMFC) to Announce $0.35 Earnings Per Share

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Equities analysts expect New Mountain Finance Corp. (NYSE:NMFC) to post $0.35 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for New Mountain Finance’s earnings, with estimates ranging from $0.34 to $0.35. New Mountain Finance posted earnings per share of $0.33 during the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 7th.

On average, analysts expect that New Mountain Finance will report full year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.36 to $1.38. For the next year, analysts forecast that the company will report earnings of $1.39 per share, with EPS estimates ranging from $1.36 to $1.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last released its earnings results on Tuesday, August 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). New Mountain Finance had a net margin of 46.52% and a return on equity of 10.11%. The firm had revenue of $54.60 million during the quarter, compared to analyst estimates of $53.10 million.

NMFC has been the topic of several recent research reports. Zacks Investment Research raised shares of New Mountain Finance from a “sell” rating to a “hold” rating in a report on Thursday, June 28th. ValuEngine raised shares of New Mountain Finance from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. TheStreet raised shares of New Mountain Finance from a “c+” rating to a “b” rating in a report on Friday, August 10th. Finally, Wells Fargo & Co lowered their price target on shares of New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. New Mountain Finance currently has a consensus rating of “Hold” and a consensus target price of $15.00.

In other news, insider James Stone bought 4,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were acquired at an average cost of $13.73 per share, with a total value of $54,920.00. Following the purchase, the insider now directly owns 93,351 shares in the company, valued at approximately $1,281,709.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert Hamwee bought 15,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $205,500.00. Following the completion of the purchase, the chief executive officer now owns 326,733 shares in the company, valued at $4,476,242.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 48,250 shares of company stock worth $662,833. 10.27% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of New Mountain Finance by 5.0% during the 3rd quarter. Bank of Montreal Can now owns 755,000 shares of the investment management company’s stock worth $10,193,000 after acquiring an additional 36,000 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in shares of New Mountain Finance during the 3rd quarter worth about $791,000. Advisors Asset Management Inc. raised its position in shares of New Mountain Finance by 8.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 439,559 shares of the investment management company’s stock worth $5,978,000 after purchasing an additional 35,187 shares during the last quarter. California Public Employees Retirement System acquired a new position in shares of New Mountain Finance during the 2nd quarter worth about $392,000. Finally, Bard Associates Inc. raised its position in shares of New Mountain Finance by 25.1% during the 2nd quarter. Bard Associates Inc. now owns 20,055 shares of the investment management company’s stock worth $273,000 after purchasing an additional 4,025 shares during the last quarter. 36.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NMFC traded up $0.10 during mid-day trading on Friday, hitting $13.18. The stock had a trading volume of 311,103 shares, compared to its average volume of 287,933. New Mountain Finance has a twelve month low of $12.05 and a twelve month high of $14.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 10.22 and a beta of 0.55.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.32%. The ex-dividend date was Thursday, September 13th. New Mountain Finance’s payout ratio is 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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