Brokerages Expect CM Finance Inc (CMFN) Will Post Quarterly Sales of $7.40 Million
Brokerages expect CM Finance Inc (NASDAQ:CMFN) to post $7.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for CM Finance’s earnings. The highest sales estimate is $7.40 million and the lowest is $7.39 million. CM Finance reported sales of $7.82 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The business is expected to announce its next quarterly earnings report on Tuesday, August 29th.
According to Zacks, analysts expect that CM Finance will report full-year sales of $7.40 million for the current financial 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 an average based on a survey of research analysts that follow CM Finance.
CM Finance (NASDAQ:CMFN) last released its quarterly earnings results on Wednesday, May 10th. The investment management company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $7.08 million for the quarter, compared to analyst estimates of $7.24 million. CM Finance had a net margin of 72.19% and a return on equity of 10.11%.
Separately, Zacks Investment Research upgraded shares of CM Finance from a “sell” rating to a “hold” rating in a research report on Monday, July 17th.
Shares of CM Finance (NASDAQ:CMFN) opened at 10.10 on Friday. The stock’s 50 day moving average is $10.16 and its 200 day moving average is $10.16. CM Finance has a 52-week low of $8.50 and a 52-week high of $10.80.
Hedge funds have recently made changes to their positions in the company. Stifel Financial Corp raised 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 worth $367,000 after buying an additional 251 shares during the period. Stephens Inc. AR raised its stake in shares of CM Finance by 2.0% in the second quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock worth $492,000 after buying an additional 947 shares during the period. Eagle Global Advisors LLC raised its stake in shares of CM Finance by 19.8% in the second quarter. Eagle Global Advisors LLC now owns 27,217 shares of the investment management company’s stock worth $272,000 after buying an additional 4,500 shares during the period. Raymond James Financial Services Advisors Inc. raised 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 worth $1,068,000 after buying an additional 5,014 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in shares of CM Finance during the first quarter worth about $133,000. Hedge funds and other institutional investors own 42.51% of the company’s stock.
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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