Brokerages Anticipate New Mountain Finance Corp. (NMFC) to Post $0.35 Earnings Per Share

Wall Street brokerages expect New Mountain Finance Corp. (NYSE:NMFC) to post earnings of $0.35 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for New Mountain Finance’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.34. New Mountain Finance reported earnings per share of $0.33 during the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The firm is scheduled to report its next 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 forecast that the business will report 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 analysts that cover New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last issued its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $54.60 million for the quarter, compared to the consensus estimate of $53.10 million.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine raised New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. TheStreet raised New Mountain Finance from a “c+” rating to a “b” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co decreased their target price on New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. New Mountain Finance has a consensus rating of “Hold” and an average price target of $15.00.

Shares of NMFC traded up $0.12 during mid-day trading on Tuesday, reaching $13.20. 35,331 shares of the company were exchanged, compared to its average volume of 281,018. New Mountain Finance has a 52 week low of $12.05 and a 52 week high of $14.38. 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 has a market capitalization of $993.19 million, a price-to-earnings ratio of 10.23 and a beta of 0.55.

In other New Mountain Finance news, insider John Kline bought 17,250 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were acquired at an average cost of $13.77 per share, for a total transaction of $237,532.50. Following the purchase, the insider now owns 81,030 shares in the company, valued at approximately $1,115,783.10. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Stone bought 4,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were acquired at an average price of $13.73 per share, for a total transaction of $54,920.00. Following the completion of the purchase, the insider now owns 93,351 shares in the company, valued at approximately $1,281,709.23. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 48,250 shares of company stock valued at $662,833. 10.27% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC purchased a new position in shares of New Mountain Finance in the 2nd quarter worth $139,000. Comerica Bank purchased a new position in shares of New Mountain Finance in the 2nd quarter worth $144,000. Tocqueville Asset Management L.P. purchased a new position in shares of New Mountain Finance in the 2nd quarter worth $162,000. Stifel Financial Corp boosted its stake in shares of New Mountain Finance by 61.6% in the 1st quarter. Stifel Financial Corp now owns 18,824 shares of the investment management company’s stock worth $249,000 after buying an additional 7,174 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of New Mountain Finance in the 2nd quarter worth $270,000. Hedge funds and other institutional investors own 37.04% of the company’s stock.

About New Mountain Finance

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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