New Mountain Finance (NASDAQ:NMFC) Releases Earnings Results, Meets Estimates

New Mountain Finance (NASDAQ:NMFC) posted its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32, Zacks reports. The company had revenue of $85.66 million for the quarter, compared to analysts’ expectations of $86.65 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. New Mountain Finance’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share.

New Mountain Finance Price Performance

NMFC stock opened at $9.76 on Tuesday. The business has a 50 day simple moving average of $10.46 and a 200-day simple moving average of $11.14. New Mountain Finance has a twelve month low of $8.84 and a twelve month high of $12.78. The company has a market capitalization of $1.05 billion, a P/E ratio of 9.30 and a beta of 0.85. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.32 per share. The ex-dividend date was Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 13.11%. New Mountain Finance’s dividend payout ratio is presently 123.08%.

Wall Street Analysts Forecast Growth

NMFC has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on shares of New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th.

Insider Buying and Selling

In other news, Director David Ogens bought 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the acquisition, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. The trade was a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.71% of the stock is owned by company insiders.

About New Mountain Finance

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.