Zacks: Brokerages Anticipate New Mountain Finance Corp. (NYSE:NMFC) to Post $0.35 Earnings Per Share

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Equities research analysts expect New Mountain Finance Corp. (NYSE:NMFC) to post earnings of $0.35 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for New Mountain Finance’s earnings. New Mountain Finance reported earnings per share of $0.34 in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is scheduled to report its next earnings results after the market closes on Wednesday, August 7th.

According to Zacks, analysts expect that New Mountain Finance will report full-year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.41. For the next year, analysts anticipate that the company will report earnings of $1.41 per share, with EPS estimates ranging from $1.40 to $1.42. Zacks’ EPS averages are an average based on a survey of research analysts that follow New Mountain Finance.

New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Monday, May 6th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). New Mountain Finance had a net margin of 38.07% and a return on equity of 10.37%. The company had revenue of $64.19 million for the quarter, compared to the consensus estimate of $62.83 million.

Separately, Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th.

NYSE:NMFC traded down $0.08 during mid-day trading on Wednesday, hitting $13.57. 827,548 shares of the company traded hands, compared to its average volume of 412,732. The company has a fifty day moving average of $14.00. New Mountain Finance has a one year low of $12.06 and a one year high of $14.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 9.83 and a beta of 0.56.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.36 annualized dividend and a dividend yield of 10.02%. New Mountain Finance’s payout ratio is 98.55%.

Several institutional investors have recently made changes to their positions in NMFC. LSV Asset Management lifted its position in shares of New Mountain Finance by 12.5% in the first quarter. LSV Asset Management now owns 2,323,600 shares of the investment management company’s stock valued at $31,531,000 after acquiring an additional 258,429 shares in the last quarter. Alphasimplex Group LLC purchased a new stake in shares of New Mountain Finance in the first quarter worth about $1,580,000. Acadian Asset Management LLC purchased a new stake in shares of New Mountain Finance in the first quarter worth about $1,367,000. Round Table Services LLC lifted its position in shares of New Mountain Finance by 4.9% in the second quarter. Round Table Services LLC now owns 1,533,784 shares of the investment management company’s stock worth $21,427,000 after buying an additional 71,950 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of New Mountain Finance by 61.7% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 121,800 shares of the investment management company’s stock worth $1,532,000 after buying an additional 46,490 shares in the last quarter. Institutional investors and hedge funds own 36.31% of the company’s stock.

About New Mountain Finance

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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