$7.40 Million in Sales Expected for CM Finance Inc (NASDAQ:CMFN) This Quarter
Wall Street brokerages expect CM Finance Inc (NASDAQ:CMFN) to post $7.40 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for CM Finance’s earnings, with the lowest sales estimate coming in at $7.39 million and the highest estimate coming in at $7.40 million. CM Finance reported sales of $7.82 million during the same quarter last year, which indicates a negative year over year growth rate of 5.4%. The firm is expected to report its next earnings results on Tuesday, August 29th.
According to Zacks, analysts expect that CM Finance will report full year sales of $7.40 million for the current fiscal year, with estimates ranging from $31.20 million to $31.21 million. For the next year, analysts expect that the company will post sales of $30.76 million per share, with estimates ranging from $30.20 million to $31.32 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover CM Finance.
CM Finance (NASDAQ:CMFN) last posted its quarterly earnings data on Wednesday, May 10th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. CM Finance had a return on equity of 10.11% and a net margin of 72.19%. The firm had revenue of $7.08 million during the quarter, compared to analysts’ expectations of $7.24 million.
Separately, Zacks Investment Research raised CM Finance from a “sell” rating to a “hold” rating in a report on Monday, July 17th.
CM Finance (CMFN) opened at 10.25 on Friday. The stock has a 50 day moving average price of $10.22 and a 200-day moving average price of $10.11. CM Finance has a 12-month low of $8.50 and a 12-month high of $10.80.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Friday, June 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 9.76%. CM Finance’s dividend payout ratio (DPR) is 60.24%.
Several large investors have recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of CM Finance by 0.7% in the first quarter. Stifel Financial Corp now owns 36,556 shares of the investment management company’s stock valued at $367,000 after buying an additional 251 shares during the period. Stephens Inc. AR boosted its stake in shares of CM Finance by 2.8% in the first quarter. Stephens Inc. AR now owns 48,218 shares of the investment management company’s stock valued at $489,000 after buying an additional 1,328 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of CM Finance by 5.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 105,232 shares of the investment management company’s stock valued at $1,068,000 after buying an additional 5,014 shares during the period. Eagle Global Advisors LLC boosted its stake in shares of CM Finance by 30.0% in the first quarter. Eagle Global Advisors LLC now owns 22,717 shares of the investment management company’s stock valued at $231,000 after buying an additional 5,240 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in shares of CM Finance during the first quarter valued at about $133,000. 42.16% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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