Analysts Expect New Mountain Finance Corp. (NMFC) Will Post Quarterly Sales of $55.38 Million

Brokerages expect New Mountain Finance Corp. (NYSE:NMFC) to report $55.38 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for New Mountain Finance’s earnings, with the lowest sales estimate coming in at $54.30 million and the highest estimate coming in at $57.33 million. New Mountain Finance reported sales of $51.24 million in the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The business is expected to report its next earnings report on Tuesday, November 6th.

On average, analysts expect that New Mountain Finance will report full-year sales of $217.39 million for the current year, with estimates ranging from $211.10 million to $223.07 million. For the next fiscal year, analysts forecast that the firm will report sales of $231.93 million per share, with estimates ranging from $223.90 million to $236.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last issued its earnings results on Tuesday, August 7th. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $53.10 million.

Several equities research analysts have recently weighed in on NMFC shares. TheStreet raised New Mountain Finance from a “c+” rating to a “b” rating in a research report on Friday, August 10th. Zacks Investment Research raised New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, August 14th. Finally, ValuEngine raised New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th.

In other New Mountain Finance news, insider James Stone purchased 4,000 shares of New Mountain Finance stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average price of $13.73 per share, with a total value of $54,920.00. Following the completion of the acquisition, the insider now owns 93,351 shares of the company’s stock, valued at approximately $1,281,709.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Adam Weinstein purchased 12,000 shares of New Mountain Finance stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average cost of $13.74 per share, with a total value of $164,880.00. Following the acquisition, the chief accounting officer now directly owns 92,113 shares of the company’s stock, valued at approximately $1,265,632.62. The disclosure for this purchase can be found here. Insiders bought 48,250 shares of company stock valued at $662,833 in the last ninety days. Company insiders own 10.27% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Standard Life Aberdeen plc acquired a new stake in New Mountain Finance during the second quarter valued at approximately $852,000. Cliffwater LLC raised its stake in New Mountain Finance by 1.5% during the second quarter. Cliffwater LLC now owns 305,398 shares of the investment management company’s stock valued at $4,153,000 after buying an additional 4,626 shares in the last quarter. Comerica Bank acquired a new stake in New Mountain Finance during the second quarter valued at approximately $144,000. BlueMountain Capital Management LLC raised its stake in New Mountain Finance by 68.3% during the second quarter. BlueMountain Capital Management LLC now owns 86,803 shares of the investment management company’s stock valued at $1,181,000 after buying an additional 35,239 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in New Mountain Finance during the first quarter valued at approximately $1,437,000. 36.99% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NMFC opened at $13.58 on Friday. New Mountain Finance has a 1-year low of $12.05 and a 1-year high of $14.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $1.03 billion, a PE ratio of 10.52 and a beta of 0.54.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 10.02%. The ex-dividend date is Thursday, September 13th. New Mountain Finance’s payout ratio is 105.43%.

About New Mountain Finance

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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