New Mountain Finance Corporation (NASDAQ:NMFC – Get Free Report) announced a quarterly dividend on Monday, November 2nd. Investors of record on Thursday, December 17th will be paid a dividend of $0.25 per share on Thursday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date is Thursday, December 17th.
New Mountain Finance has a payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect New Mountain Finance to earn $1.07 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 93.5%.
New Mountain Finance Price Performance
New Mountain Finance stock opened at $7.11 on Tuesday. New Mountain Finance has a 12-month low of $6.47 and a 12-month high of $9.84. The stock has a market cap of $671.54 million, a P/E ratio of -15.13 and a beta of 0.60. The company has a 50-day moving average price of $7.05 and a 200 day moving average price of $7.66. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.30.
New Mountain Finance (NASDAQ:NMFC – Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $60.41 million for the quarter, compared to the consensus estimate of $61.07 million. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. New Mountain Finance’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Sell-side analysts anticipate that New Mountain Finance will post 1.10 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on NMFC. Wells Fargo & Company cut their price target on shares of New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a report on Wednesday, August 5th. Weiss Ratings cut New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods cut their target price on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, July 20th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $7.67.
Read Our Latest Report on New Mountain Finance
About New Mountain Finance
New Mountain Finance Corporation (NASDAQ: NMFC) is a business development company that provides financing to middle-market businesses. The company is externally managed by New Mountain Finance Advisers, an affiliate of New Mountain Capital, an investment firm focused on growth-oriented companies in industries such as business services, healthcare, software and technology.
New Mountain Finance primarily invests in debt securities, including first-lien, unitranche, second-lien and unsecured loans.
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