Analysts Anticipate New Mountain Finance Corp. (NMFC) Will Post Quarterly Sales of $60.02 Million

Equities analysts expect New Mountain Finance Corp. (NYSE:NMFC) to post $60.02 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for New Mountain Finance’s earnings. The highest sales estimate is $62.69 million and the lowest is $58.58 million. New Mountain Finance reported sales of $53.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.6%. The business is expected to report its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that New Mountain Finance will report full year sales of $228.13 million for the current fiscal year, with estimates ranging from $226.76 million to $230.64 million. For the next fiscal year, analysts anticipate that the company will post sales of $246.70 million, with estimates ranging from $238.53 million to $253.58 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Wednesday, November 7th. The investment management company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). New Mountain Finance had a return on equity of 10.18% and a net margin of 45.47%. The company had revenue of $60.47 million for the quarter, compared to analysts’ expectations of $55.38 million.

Several equities research analysts have recently commented on NMFC shares. ValuEngine upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. Zacks Investment Research raised New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, November 14th. TheStreet lowered New Mountain Finance from a “b-” rating to a “c” rating in a report on Friday, November 9th. Finally, Wells Fargo & Co dropped their price objective on New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.67.

Shares of New Mountain Finance stock traded down $0.02 during trading hours on Friday, hitting $13.61. 165,104 shares of the company were exchanged, compared to its average volume of 272,681. New Mountain Finance has a 1 year low of $12.05 and a 1 year high of $14.38. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market capitalization of $1.04 billion, a PE ratio of 10.55 and a beta of 0.54.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 9.99%. The ex-dividend date of this dividend is Thursday, December 13th. New Mountain Finance’s dividend payout ratio is presently 105.43%.

In other news, insider James Stone bought 4,000 shares of the stock in a transaction on Thursday, September 6th. The shares were bought 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 $1,281,709.23. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Adam Weinstein bought 12,000 shares of the stock in a transaction on Thursday, September 6th. The stock was purchased at an average cost of $13.74 per share, for a total transaction 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 have purchased 50,049 shares of company stock worth $687,173 in the last ninety days. 10.27% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of NMFC. Castle Rock Wealth Management LLC acquired a new stake in New Mountain Finance in the second quarter valued at $139,000. Comerica Bank acquired a new stake in New Mountain Finance in the second quarter valued at $144,000. Brown Advisory Inc. acquired a new stake in New Mountain Finance in the third quarter valued at $154,000. Tocqueville Asset Management L.P. acquired a new stake in New Mountain Finance in the second quarter valued at $162,000. Finally, AJ Wealth Strategies LLC acquired a new stake in New Mountain Finance in the third quarter valued at $180,000. 36.66% of the stock is currently owned by institutional investors.

New Mountain Finance Company Profile

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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