New Mountain Finance Corporation (NMFC) To Go Ex-Dividend on December 17th

New Mountain Finance Corporation (NASDAQ:NMFC) declared a quarterly dividend on Tuesday, October 28th. Investors of record on Wednesday, December 17th will be given a dividend of 0.32 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Wednesday, December 17th.

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 dividend payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect New Mountain Finance to earn $1.31 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 97.7%.

New Mountain Finance Stock Up 0.9%

New Mountain Finance stock opened at $9.71 on Monday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40. New Mountain Finance has a 12-month low of $8.84 and a 12-month high of $12.05. The firm’s fifty day moving average is $9.49 and its 200 day moving average is $10.08. The company has a market capitalization of $1.00 billion, a PE ratio of 14.94 and a beta of 0.57.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $80.53 million for the quarter, compared to analyst estimates of $83.91 million. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, sell-side analysts predict that New Mountain Finance will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

NMFC has been the topic of a number of research reports. Bank of America reiterated an “underperform” rating and issued a $10.00 price target (down previously from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. New Street Research set a $10.00 target price on New Mountain Finance in a report on Friday, October 10th. B. Riley restated a “neutral” rating and set a $10.00 price target (down previously from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $10.17.

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.