$48.70 Million in Sales Expected for New Mountain Finance Corporation (NMFC) This Quarter

Wall Street analysts forecast that New Mountain Finance Corporation (NYSE:NMFC) will announce $48.70 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for New Mountain Finance Corporation’s earnings, with the lowest sales estimate coming in at $46.29 million and the highest estimate coming in at $50.33 million. New Mountain Finance Corporation posted sales of $41.83 million in the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 14th.

On average, analysts expect that New Mountain Finance Corporation will report full-year sales of $48.70 million for the current financial year, with estimates ranging from $181.90 million to $194.16 million. For the next fiscal year, analysts forecast that the firm will post sales of $208.27 million per share, with estimates ranging from $194.10 million to $217.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow New Mountain Finance Corporation.

New Mountain Finance Corporation (NYSE:NMFC) last released its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. The firm had revenue of $50.02 million during the quarter, compared to analyst estimates of $47.66 million.

NMFC has been the topic of several recent research reports. Zacks Investment Research upgraded New Mountain Finance Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $15.00 target price on New Mountain Finance Corporation and gave the company a “hold” rating in a report on Thursday. Finally, BidaskClub lowered New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.

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New Mountain Finance Corporation (NYSE NMFC) traded down 0.35% during trading on Friday, hitting $14.25. 90,795 shares of the stock traded hands. The company has a 50-day moving average price of $14.04 and a 200 day moving average price of $14.43. New Mountain Finance Corporation has a one year low of $13.05 and a one year high of $15.00.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.54%. The ex-dividend date was Thursday, September 14th. New Mountain Finance Corporation’s payout ratio is 86.62%.

A number of large investors have recently added to or reduced their stakes in NMFC. Muzinich & Co. Inc. grew its position in shares of New Mountain Finance Corporation by 14.5% in the second quarter. Muzinich & Co. Inc. now owns 3,656,026 shares of the investment management company’s stock valued at $53,195,000 after purchasing an additional 462,290 shares in the last quarter. Ares Management LLC grew its position in shares of New Mountain Finance Corporation by 75.6% in the second quarter. Ares Management LLC now owns 734,130 shares of the investment management company’s stock valued at $10,681,000 after purchasing an additional 316,011 shares in the last quarter. UBS Group AG grew its position in shares of New Mountain Finance Corporation by 26.9% in the first quarter. UBS Group AG now owns 1,275,093 shares of the investment management company’s stock valued at $18,999,000 after purchasing an additional 270,005 shares in the last quarter. Round Table Services LLC grew its position in shares of New Mountain Finance Corporation by 22.7% in the second quarter. Round Table Services LLC now owns 1,300,398 shares of the investment management company’s stock valued at $18,921,000 after purchasing an additional 240,229 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its position in shares of New Mountain Finance Corporation by 30.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,768 shares of the investment management company’s stock valued at $6,631,000 after purchasing an additional 106,363 shares in the last quarter. 40.71% of the stock is owned by institutional investors and hedge funds.

About New Mountain Finance Corporation

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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