New Mountain Finance Corp. (NMFC) Expected to Post Earnings of $0.35 Per Share

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Wall Street analysts expect New Mountain Finance Corp. (NYSE:NMFC) to report earnings of $0.35 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for New Mountain Finance’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.35. New Mountain Finance posted earnings per share of $0.33 in the same quarter last year, which would indicate 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 fiscal year, with EPS estimates ranging from $1.36 to $1.38. For the next financial year, analysts expect that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.36 to $1.41. Zacks’ EPS calculations are an average based on a survey of research firms that follow New Mountain Finance.

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

Several research analysts have commented on NMFC shares. Zacks Investment Research upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a report on Thursday, June 28th. ValuEngine upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. TheStreet upgraded shares of New Mountain Finance from a “c+” rating to a “b” rating in a report on Friday, August 10th. Finally, Wells Fargo & Co decreased their target price on shares of New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, October 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. New Mountain Finance has an average rating of “Hold” and a consensus target price of $15.00.

Shares of NMFC traded up $0.10 during midday 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 fifty-two week low of $12.05 and a fifty-two week high of $14.50. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 10.22 and a beta of 0.55. 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 also recently announced 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 dividend yield of 10.32%. The ex-dividend date was Thursday, September 13th. New Mountain Finance’s payout ratio is 105.43%.

In related news, insider James Stone purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average cost of $13.73 per share, for a total transaction of $54,920.00. Following the completion of the acquisition, the insider now owns 93,351 shares in the company, valued at approximately $1,281,709.23. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Hamwee purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of $13.70 per share, with a total value of $205,500.00. Following the completion of the acquisition, the chief executive officer now owns 326,733 shares of the company’s stock, valued at approximately $4,476,242.10. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 48,250 shares of company stock valued at $662,833. Corporate insiders own 10.27% of the company’s stock.

Several hedge funds have recently bought and sold shares of NMFC. Arete Wealth Advisors LLC acquired a new stake in shares of New Mountain Finance during the first quarter worth approximately $138,000. Castle Rock Wealth Management LLC acquired a new stake in shares of New Mountain Finance during the second quarter worth approximately $139,000. Comerica Bank acquired a new stake in shares of New Mountain Finance during the second quarter worth approximately $144,000. Tocqueville Asset Management L.P. acquired a new stake in shares of New Mountain Finance during the second quarter worth approximately $162,000. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of New Mountain Finance during the first quarter worth approximately $241,000. Institutional investors and hedge funds own 36.99% of the company’s stock.

New Mountain Finance Company Profile

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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Earnings History and Estimates for New Mountain Finance (NYSE:NMFC)

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