New Mountain Finance Corporation (NASDAQ:NMFC) Declares Quarterly Dividend of $0.25

New Mountain Finance Corporation (NASDAQ:NMFC) declared a quarterly dividend on Monday, August 3rd. Investors of record on Wednesday, September 16th will be given a dividend of 0.25 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 13.8%. The ex-dividend date is Wednesday, September 16th.

New Mountain Finance has raised its dividend payment by an average of 0.0%per year over the last three years. New Mountain Finance has a dividend 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 Stock Performance

NMFC opened at $7.23 on Tuesday. New Mountain Finance has a 1-year low of $6.73 and a 1-year high of $10.71. The business has a 50 day moving average price of $7.33 and a two-hundred day moving average price of $7.90. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market capitalization of $682.87 million, a price-to-earnings ratio of -12.47 and a beta of 0.55.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The firm had revenue of $39.02 million for the quarter, compared to analyst estimates of $62.78 million. During the same quarter last year, the firm posted $0.32 EPS. Research analysts predict that New Mountain Finance will post 1.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods decreased 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 report on Monday, July 20th. Finally, Weiss Ratings cut New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, New Mountain Finance has an average rating of “Reduce” and an average price target of $9.08.

About New Mountain Finance

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.