New Mountain Finance Corporation (NASDAQ:NMFC) Shares to Pay Quarterly Dividend of $0.25

New Mountain Finance Corporation (NASDAQ:NMFC) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Thursday, December 17th will be given a dividend of $0.25 per share on Thursday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 14.1%. The ex-dividend date is Thursday, December 17th.

New Mountain Finance has a payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect New Mountain Finance to earn $1.07 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 93.5%.

New Mountain Finance Price Performance

Shares of NMFC opened at $7.11 on Tuesday. The stock has a market capitalization of $671.54 million, a P/E ratio of -15.13 and a beta of 0.60. New Mountain Finance has a twelve month low of $6.47 and a twelve month high of $9.84. The company has a 50 day moving average of $7.05 and a 200-day moving average of $7.66. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.30.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $60.41 million for the quarter, compared to the consensus estimate of $61.07 million. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. The firm’s revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, equities research analysts forecast that New Mountain Finance will post 1.10 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Wells Fargo & Company cut their price target on shares of New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, July 20th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, New Mountain Finance presently has a consensus rating of “Reduce” and an average target price of $7.67.

New Mountain Finance Company Profile

New Mountain Finance Corporation (NASDAQ: NMFC) is a business development company that provides financing to middle-market businesses. The company is externally managed by New Mountain Finance Advisers, an affiliate of New Mountain Capital, an investment firm focused on growth-oriented companies in industries such as business services, healthcare, software and technology.

New Mountain Finance primarily invests in debt securities, including first-lien, unitranche, second-lien and unsecured loans.