New Mountain Finance (NASDAQ:NMFC) Posts Quarterly Earnings Results, Hits Expectations

New Mountain Finance (NASDAQ:NMFC) posted its quarterly earnings results on Monday. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26, FiscalAI reports. New Mountain Finance had a negative net margin of 21.29% and a positive return on equity of 10.52%. The business had revenue of $60.41 million during the quarter, compared to analysts’ expectations of $61.07 million. During the same period last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year.

New Mountain Finance Stock Performance

Shares of NASDAQ NMFC opened at $7.01 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.66 and a current ratio of 3.66. The firm has a market cap of $662.09 million, a price-to-earnings ratio of -12.98 and a beta of 0.58. The business’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $7.65. New Mountain Finance has a 52 week low of $6.47 and a 52 week high of $9.84.

New Mountain Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.3%. The ex-dividend date of this dividend is Thursday, December 17th. New Mountain Finance’s dividend payout ratio is presently -212.77%.

Wall Street Analysts Forecast Growth

NMFC has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of 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. Weiss Ratings downgraded shares of New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Bank of America reiterated an “underperform” rating on shares of New Mountain Finance in a report on Wednesday. Finally, Wells Fargo & Company reiterated a “reduce” rating and set a $7.00 price objective on shares of New Mountain Finance in a report on Wednesday. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, New Mountain Finance has a consensus rating of “Reduce” and a consensus price target of $7.50.

New Mountain Finance Company Profile

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.