New Mountain Finance (NASDAQ:NMFC) Posts Quarterly Earnings Results, Meets Estimates

New Mountain Finance (NASDAQ:NMFC) issued its earnings results on Monday. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26, FiscalAI reports. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. The company had revenue of $60.41 million for the quarter, compared to the consensus estimate of $61.07 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis.

New Mountain Finance Trading Up 1.1%

New Mountain Finance stock opened at $7.11 on Tuesday. New Mountain Finance has a 12 month low of $6.47 and a 12 month high of $9.84. The company has a market capitalization of $671.54 million, a price-to-earnings ratio of -15.13 and a beta of 0.60. The business’s fifty day simple moving average is $7.05 and its two-hundred day simple moving average is $7.66. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.30.

New Mountain Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.1%. The ex-dividend date of this dividend is Thursday, December 17th. New Mountain Finance’s payout ratio is -212.77%.

Analyst Upgrades and Downgrades

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