$0.25 EPS Expected for CM Finance Inc (CMFN) This Quarter
Equities research analysts expect CM Finance Inc (NASDAQ:CMFN) to announce $0.25 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CM Finance’s earnings. CM Finance posted earnings of $0.29 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 13.8%. The company is expected to announce its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that CM Finance will report full year earnings of $1.07 per share for the current fiscal year, with EPS estimates ranging from $1.01 to $1.12. For the next financial year, analysts expect that the company will post earnings of $1.12 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover CM Finance.
CM Finance (NASDAQ:CMFN) last released its earnings results on Wednesday, September 6th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. CM Finance had a net margin of 76.03% and a return on equity of 9.42%. The company had revenue of $7.19 million during the quarter, compared to analyst estimates of $7.40 million.
Separately, Zacks Investment Research raised CM Finance from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Friday, September 8th.
Shares of CM Finance (NASDAQ:CMFN) traded up 1.58% during trading on Wednesday, reaching $9.65. 43,776 shares of the company’s stock traded hands. CM Finance has a one year low of $8.50 and a one year high of $10.80. The company has a 50 day moving average price of $9.76 and a 200-day moving average price of $10.13.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 8th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.00 annualized dividend and a yield of 10.36%. CM Finance’s dividend payout ratio is presently 58.14%.
In other news, CEO Michael Mauer bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average cost of $9.61 per share, for a total transaction of $38,440.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.79% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CMFN. Ares Management LLC grew its position in CM Finance by 55.2% during the second quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock valued at $1,056,000 after buying an additional 37,596 shares during the period. UBS Group AG increased its holdings in CM Finance by 23.3% in the first quarter. UBS Group AG now owns 184,656 shares of the investment management company’s stock valued at $1,874,000 after buying an additional 34,840 shares in the last quarter. KCG Holdings Inc. purchased a new position in CM Finance in the first quarter valued at $133,000. Eagle Global Advisors LLC increased its holdings 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 valued at $272,000 after buying an additional 4,500 shares in the last quarter. Finally, Caxton Corp increased its holdings in CM Finance by 3.6% in the second quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock valued at $551,000 after buying an additional 1,898 shares in the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.
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About CM Finance
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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