Brokerages Anticipate CM Finance Inc (CMFN) Will Announce Quarterly Sales of $7.40 Million
Wall Street analysts expect that CM Finance Inc (NASDAQ:CMFN) will post sales of $7.40 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for CM Finance’s earnings, with estimates ranging from $7.39 million to $7.40 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 issue its next earnings results after the market closes on Wednesday, September 6th.
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 financial year, analysts expect that the company will report sales of $30.76 million per share, with estimates ranging from $30.20 million to $31.32 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CM Finance.
Separately, Zacks Investment Research upgraded CM Finance from a “sell” rating to a “hold” rating in a report on Monday, July 17th.
Shares of CM Finance (NASDAQ CMFN) opened at 9.95 on Wednesday. CM Finance has a 52-week low of $8.50 and a 52-week high of $10.80. The company’s 50-day moving average is $10.12 and its 200 day moving average is $10.20.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date is Thursday, September 7th. CM Finance’s dividend payout ratio (DPR) is 60.24%.
A number of institutional investors have recently bought and sold shares of the stock. Ares Management LLC boosted its position in CM Finance by 55.2% in the second quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock worth $1,056,000 after buying an additional 37,596 shares during the last quarter. Caxton Corp boosted its position in CM Finance by 3.6% in the second quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock worth $551,000 after buying an additional 1,898 shares during the last quarter. Stephens Inc. AR boosted its position in 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 last quarter. Eagle Global Advisors LLC boosted its position in 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 last quarter. Finally, KCG Holdings Inc. acquired a new position in CM Finance during the first quarter worth about $133,000. Institutional investors own 44.11% of the company’s stock.
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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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