Equities research analysts predict that New Mountain Finance Corp. (NYSE:NMFC) will post $0.35 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for New Mountain Finance’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.35. New Mountain Finance posted earnings per share of $0.33 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, November 7th.
On average, analysts expect that New Mountain Finance will report full year earnings of $1.37 per share for the current fiscal year, with EPS estimates ranging from $1.36 to $1.38. For the next financial year, analysts anticipate that the company will report earnings of $1.39 per share, with EPS estimates ranging from $1.36 to $1.41. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover New Mountain Finance.
New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $53.10 million.
A number of equities research analysts have recently issued reports on NMFC shares. ValuEngine upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. 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 research note on Thursday, October 4th. Zacks Investment Research upgraded New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, August 14th. Finally, TheStreet upgraded New Mountain Finance from a “c+” rating to a “b” rating in a research note on Friday, August 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.
In other New Mountain Finance news, CEO Robert Hamwee purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $205,500.00. Following the purchase, the chief executive officer now owns 326,733 shares in the company, valued at $4,476,242.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Stone purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average price of $13.73 per share, for a total transaction of $54,920.00. Following the purchase, the insider now owns 93,351 shares in the company, valued at approximately $1,281,709.23. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 48,250 shares of company stock worth $662,833. Company insiders own 10.27% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NMFC. Castle Rock Wealth Management LLC bought a new stake in New Mountain Finance in the 2nd quarter valued at $139,000. Comerica Bank bought a new stake in New Mountain Finance in the 2nd quarter valued at $144,000. Tocqueville Asset Management L.P. bought a new stake in New Mountain Finance in the 2nd quarter valued at $162,000. Stifel Financial Corp raised its stake in New Mountain Finance by 61.6% in the 1st quarter. Stifel Financial Corp now owns 18,824 shares of the investment management company’s stock valued at $249,000 after acquiring an additional 7,174 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in New Mountain Finance in the 2nd quarter valued at $270,000. Institutional investors and hedge funds own 37.14% of the company’s stock.
Shares of New Mountain Finance stock traded up $0.07 on Tuesday, reaching $13.57. 301,176 shares of the company were exchanged, compared to its average volume of 287,876. New Mountain Finance has a one year low of $12.05 and a one year high of $14.38. The stock has a market cap of $1.02 billion, a P/E ratio of 10.52 and a beta of 0.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.04.
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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