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

New Mountain Finance (NASDAQ:NMFC) released its quarterly earnings results on Monday. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26, FiscalAI reports. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%. The company had revenue of $60.41 million for the quarter, compared to analysts’ expectations of $61.07 million.

New Mountain Finance Trading Up 1.1%

Shares of NASDAQ:NMFC traded up $0.08 during midday trading on Monday, reaching $7.11. The company’s stock had a trading volume of 885,200 shares, compared to its average volume of 798,676. The firm has a market capitalization of $671.54 million, a price-to-earnings ratio of -15.13 and a beta of 0.58. 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 50 day moving average price of $7.06 and a two-hundred day moving average price of $7.67. New Mountain Finance has a fifty-two week low of $6.47 and a fifty-two week high of $9.84.

Wall Street Analysts Forecast Growth

NMFC has been the topic of several analyst reports. Weiss Ratings cut shares of New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Wells Fargo & Company decreased their price objective on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods lowered their target price on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Monday, July 20th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $7.67.

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.