Analysts expect that New Mountain Finance Corporation (NYSE:NMFC) will announce earnings of $0.34 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for New Mountain Finance’s earnings. The lowest EPS estimate is $0.33 and the highest is $0.35. New Mountain Finance also reported earnings per share of $0.34 during the same quarter last year. The company is expected to report its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that New Mountain Finance will report full-year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.36 to $1.38. For the next fiscal year, analysts anticipate that the company will post earnings of $1.38 per share, with EPS estimates ranging from $1.36 to $1.40. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for New Mountain Finance.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of New Mountain Finance from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, October 5th.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 9.96%. The ex-dividend date of this dividend was Thursday, December 14th. New Mountain Finance’s payout ratio is currently 87.74%.
In related news, insider James Stone purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was bought at an average cost of $14.19 per share, with a total value of $170,280.00. Following the completion of the purchase, the insider now directly owns 87,438 shares in the company, valued at $1,240,745.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kurt Wolfgruber purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average cost of $13.93 per share, with a total value of $41,790.00. Following the completion of the purchase, the director now owns 42,905 shares of the company’s stock, valued at $597,666.65. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 26,100 shares of company stock valued at $369,068. 9.73% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Airain ltd bought a new position in New Mountain Finance in the second quarter worth about $149,000. Cetera Investment Advisers purchased a new stake in New Mountain Finance in the second quarter worth about $153,000. Financial Counselors Inc. purchased a new stake in New Mountain Finance in the second quarter worth about $155,000. Alliancebernstein L.P. purchased a new stake in New Mountain Finance in the second quarter worth about $160,000. Finally, OxFORD Asset Management LLP purchased a new stake in New Mountain Finance in the third quarter worth about $161,000. 39.29% of the stock is owned by institutional investors.
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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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