New Mountain Finance Corporation (NMFC) To Go Ex-Dividend on September 16th

New Mountain Finance Corporation (NASDAQ:NMFC) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Wednesday, September 16th will be paid a dividend of 0.25 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 13.8%. The ex-dividend date is Wednesday, September 16th.

New Mountain Finance has raised its dividend payment by an average of 0.0%annually over the last three years. New Mountain Finance has a payout ratio of 71.9% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NMFC stock opened at $7.24 on Monday. New Mountain Finance has a twelve month low of $6.73 and a twelve month high of $10.54. The stock has a market capitalization of $683.82 million, a price-to-earnings ratio of -15.40 and a beta of 0.57. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.30. The firm’s fifty day simple moving average is $7.31 and its two-hundred day simple moving average is $7.68.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. The firm had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $62.78 million. During the same period in the previous year, the company earned $0.32 EPS. As a group, analysts anticipate that New Mountain Finance will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on NMFC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of New Mountain Finance in a research note on Thursday, August 13th. Wells Fargo & Company dropped their target price on shares of New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods cut their price target on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $8.60.

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 invests primarily in debt securities, including senior secured loans, unitranche loans and subordinated debt, and may also make equity investments. Its investments are generally structured to support acquisitions, recapitalizations, refinancings, growth initiatives and other corporate activities.

New Mountain Finance focuses on companies operating in defensive growth industries, such as business services, healthcare, software and technology, and other sectors it believes have resilient demand and favorable long-term trends.