New Mountain Finance Co. (NASDAQ:NMFC) Announces Quarterly Dividend of $0.32

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.32 per share on Friday, June 28th. This represents a $1.28 dividend on an annualized basis and a yield of 10.08%. The ex-dividend date is Friday, June 14th.

New Mountain Finance has raised its dividend by an average of 7.2% per year over the last three years. New Mountain Finance has a dividend payout ratio of 88.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect New Mountain Finance to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 86.5%.

New Mountain Finance Stock Up 0.6 %

NMFC stock traded up $0.07 during midday trading on Friday, reaching $12.70. The company had a trading volume of 376,071 shares, compared to its average volume of 422,755. The company has a 50 day moving average of $12.60 and a two-hundred day moving average of $12.71. The company has a market capitalization of $1.35 billion, a P/E ratio of 11.44 and a beta of 1.11. New Mountain Finance has a 1 year low of $11.38 and a 1 year high of $13.23. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.34.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). New Mountain Finance had a net margin of 31.67% and a return on equity of 11.88%. The firm had revenue of $90.56 million for the quarter, compared to analyst estimates of $90.08 million. During the same period in the previous year, the business posted $0.38 EPS. New Mountain Finance’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that New Mountain Finance will post 1.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price target on New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.