New Mountain Finance (NMFC) Expected to Announce Quarterly Sales of $53.11 Million

Brokerages forecast that New Mountain Finance (NYSE:NMFC) will announce $53.11 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for New Mountain Finance’s earnings. The lowest sales estimate is $51.46 million and the highest is $54.79 million. New Mountain Finance posted sales of $50.02 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 14th.

On average, analysts expect that New Mountain Finance will report full year sales of $201.03 million for the current year, with estimates ranging from $184.97 million to $220.11 million. For the next year, analysts forecast that the business will report sales of $221.17 million per share, with estimates ranging from $213.00 million to $232.55 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last released its earnings results on Wednesday, February 28th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. New Mountain Finance had a return on equity of 10.27% and a net margin of 49.57%. The business had revenue of $53.30 million for the quarter, compared to analyst estimates of $48.94 million.

Several analysts recently issued reports on the company. Zacks Investment Research lowered New Mountain Finance from a “hold” rating to a “sell” rating in a report on Friday, May 11th. TheStreet lowered New Mountain Finance from a “b” rating to a “c+” rating in a report on Wednesday, April 11th. ValuEngine lowered New Mountain Finance from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $15.00 price objective on New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.00.

In other news, Director Steven B. Klinsky bought 281,176 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were bought at an average price of $13.40 per share, with a total value of $3,767,758.40. Following the completion of the transaction, the director now owns 5,823,600 shares of the company’s stock, valued at $78,036,240. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam Weinstein bought 16,255 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was purchased at an average cost of $13.14 per share, for a total transaction of $213,590.70. Following the transaction, the chief accounting officer now directly owns 72,949 shares of the company’s stock, valued at approximately $958,549.86. The disclosure for this purchase can be found here. Insiders acquired 557,831 shares of company stock worth $7,449,774 in the last 90 days. Corporate insiders own 10.27% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new position in shares of New Mountain Finance in the first quarter valued at approximately $138,000. IFP Advisors Inc grew its position in shares of New Mountain Finance by 222.3% in the fourth quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock valued at $140,000 after purchasing an additional 7,115 shares during the last quarter. Kovack Advisors Inc. acquired a new position in shares of New Mountain Finance in the fourth quarter valued at approximately $146,000. Cullen Frost Bankers Inc. acquired a new position in shares of New Mountain Finance in the first quarter valued at approximately $163,000. Finally, Wedbush Securities Inc. acquired a new position in shares of New Mountain Finance in the first quarter valued at approximately $193,000. 38.76% of the stock is currently owned by institutional investors.

NMFC opened at $13.90 on Wednesday. New Mountain Finance has a 52-week low of $12.05 and a 52-week high of $14.85. The stock has a market cap of $1.05 billion, a P/E ratio of 10.78 and a beta of 0.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.34 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.36 annualized dividend and a yield of 9.78%. New Mountain Finance’s dividend 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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