New Mountain Finance (NASDAQ:NMFC) Issues Quarterly Earnings Results

New Mountain Finance (NASDAQ:NMFC) issued its earnings results on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01), Briefing.com reports. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.26%. The company had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same period last year, the business earned $0.40 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis.

New Mountain Finance Stock Down 2.9 %

Shares of NMFC stock traded down $0.33 on Friday, hitting $11.10. The company’s stock had a trading volume of 901,188 shares, compared to its average volume of 402,587. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.57 and a beta of 1.15. New Mountain Finance has a fifty-two week low of $11.03 and a fifty-two week high of $13.23. The firm’s fifty day moving average price is $11.88 and its 200-day moving average price is $12.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75.

New Mountain Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 11.89%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s payout ratio is currently 121.90%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their target price on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

New Mountain Finance Company Profile

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.