Analysts Anticipate CM Finance Inc (CMFN) Will Announce Quarterly Sales of $7.48 Million
Brokerages expect that CM Finance Inc (NASDAQ:CMFN) will announce $7.48 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CM Finance’s earnings, with the highest sales estimate coming in at $7.65 million and the lowest estimate coming in at $7.30 million. CM Finance reported sales of $7.59 million during the same quarter last year, which indicates a negative year over year growth rate of 1.4%. The firm is scheduled to issue its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that CM Finance will report full year sales of $7.48 million for the current financial year, with estimates ranging from $31.70 million to $32.37 million. For the next fiscal year, analysts forecast that the firm will post sales of $36.22 million per share. 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 data on Wednesday, September 6th. The investment management company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. CM Finance had a return on equity of 9.42% and a net margin of 76.03%. The company had revenue of $7.19 million for the quarter, compared to analyst estimates of $7.40 million.
Separately, Zacks Investment Research cut shares of CM Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th.
In other CM Finance news, CEO Michael Mauer acquired 4,000 shares of CM Finance stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average price of $9.61 per share, with a total value of $38,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.75% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. KCG Holdings Inc. acquired a new stake in shares of CM Finance in the 1st quarter valued at $133,000. Eagle Global Advisors LLC lifted its stake in shares of CM Finance by 19.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 27,217 shares of the investment management company’s stock valued at $272,000 after purchasing an additional 4,500 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of CM Finance by 0.7% in the 1st quarter. Stifel Financial Corp now owns 36,556 shares of the investment management company’s stock valued at $367,000 after purchasing an additional 251 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of CM Finance by 2.8% in the 1st quarter. Stephens Inc. AR now owns 48,218 shares of the investment management company’s stock valued at $489,000 after purchasing an additional 1,328 shares during the last quarter. Finally, Caxton Corp lifted its stake in shares of CM Finance by 3.6% in the 2nd quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock valued at $551,000 after purchasing an additional 1,898 shares during the last quarter. 44.11% of the stock is owned by institutional investors and hedge funds.
CM Finance (CMFN) opened at 9.70 on Friday. The firm has a 50-day moving average price of $9.98 and a 200 day moving average price of $10.18. CM Finance has a 52-week low of $8.50 and a 52-week high of $10.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.31%. The ex-dividend date of this dividend is Thursday, September 7th. CM Finance’s payout ratio is presently 58.14%.
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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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