Raymond James Financial downgraded shares of CM Finance (NASDAQ:CMFN) from an outperform rating to a market perform rating in a research report sent to investors on Friday, MarketBeat Ratings reports.
A number of other equities research analysts have also issued reports on the company. ValuEngine raised CM Finance from a hold rating to a buy rating in a research note on Friday, December 1st. UBS Group lowered CM Finance from an outperform rating to a market perform rating in a research note on Friday. Finally, TheStreet lowered CM Finance from a b- rating to a c+ rating in a research note on Tuesday, November 21st. Five analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and a consensus price target of $11.00.
Shares of CM Finance (CMFN) opened at $7.75 on Friday. CM Finance has a 52 week low of $7.40 and a 52 week high of $10.80. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $106.79, a P/E ratio of 5.66 and a beta of 1.27.
CM Finance (NASDAQ:CMFN) last posted its earnings results on Wednesday, February 7th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. CM Finance had a return on equity of 7.98% and a net margin of 63.54%. The firm had revenue of $8.45 million for the quarter, compared to analyst estimates of $7.67 million. equities analysts forecast that CM Finance will post 1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.90%. The ex-dividend date is Thursday, March 15th. CM Finance’s dividend payout ratio is presently 72.99%.
Several institutional investors have recently modified their holdings of the business. Caxton Corp lifted its stake in shares of CM Finance by 11.5% during the 3rd quarter. Caxton Corp now owns 61,429 shares of the investment management company’s stock worth $574,000 after purchasing an additional 6,327 shares during the period. Macquarie Group Ltd. purchased a new position in shares of CM Finance during the 3rd quarter worth $459,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of CM Finance by 1,788.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,620 shares of the investment management company’s stock worth $1,310,000 after purchasing an additional 134,120 shares during the period. 44.91% of the stock is currently owned by institutional investors.
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About CM Finance
CM Finance Inc is an externally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that invests primarily in the debt of the United States middle-market companies. The Company’s primary investment objective is to maximize total return to stockholders in the form of current income and capital appreciation by investing in debt and related equity of privately held lower middle-market companies.
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