Analysts Set $11.00 Target Price for CM Finance Inc. (CMFN)
Shares of CM Finance Inc. (NASDAQ:CMFN) have earned an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a buy rating to the company.
Brokerages have set a 12 month consensus price target of $11.00 for the company and are expecting that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned CM Finance an industry rank of 206 out of 265 based on the ratings given to related companies.
Several brokerages recently issued reports on CMFN. Zacks Investment Research cut CM Finance from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of CM Finance in a report on Wednesday, August 31st. Finally, TheStreet raised CM Finance from a “sell” rating to a “hold” rating in a report on Friday, July 22nd.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/analysts-set-11-00-target-price-for-cm-finance-inc-cmfn.html
Shares of CM Finance (NASDAQ:CMFN) traded up 1.88% during trading on Tuesday, hitting $9.27. The stock had a trading volume of 14,121 shares. CM Finance has a 12-month low of $6.33 and a 12-month high of $11.75. The stock’s 50 day moving average is $9.37 and its 200-day moving average is $9.07.
CM Finance (NASDAQ:CMFN) last posted its quarterly earnings results on Tuesday, August 30th. The investment management company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. CM Finance had a positive return on equity of 11.69% and a negative net margin of 26.26%. On average, analysts forecast that CM Finance will post $1.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Friday, September 16th were given a dividend of $0.3516 per share. This represents a $1.41 annualized dividend and a yield of 15.46%. The ex-dividend date of this dividend was Wednesday, September 14th. CM Finance’s payout ratio is -204.35%.
A number of institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp increased its position in CM Finance by 0.3% in the second quarter. Stifel Financial Corp now owns 45,610 shares of the investment management company’s stock valued at $405,000 after buying an additional 118 shares during the last quarter. Nuveen Fund Advisors LLC bought a new position in CM Finance during the second quarter valued at $124,000. Raymond James & Associates increased its position in CM Finance by 0.8% in the second quarter. Raymond James & Associates now owns 269,185 shares of the investment management company’s stock valued at $2,390,000 after buying an additional 2,157 shares during the last quarter. Advisors Asset Management Inc. increased its position in CM Finance by 2.3% in the second quarter. Advisors Asset Management Inc. now owns 862,738 shares of the investment management company’s stock valued at $7,661,000 after buying an additional 19,490 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in CM Finance by 5.7% in the second quarter. Oppenheimer & Co. Inc. now owns 37,056 shares of the investment management company’s stock valued at $329,000 after buying an additional 2,000 shares during the last quarter. 41.40% of the stock is owned by institutional investors.
CM Finance Company Profile
CM Finance Inc is an externally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that invests primarily in the debt of the United States middle-market companies. The Company’s primary investment objective is to maximize total return to stockholders in the form of current income and capital appreciation by investing in debt and related equity of privately held lower middle-market companies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CM Finance Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CM Finance Inc. and related companies with MarketBeat.com's FREE daily email newsletter.