Zacks: Analysts Anticipate CM Finance Inc (CMFN) Will Post Quarterly Sales of $7.48 Million
Equities analysts predict that CM Finance Inc (NASDAQ:CMFN) will announce $7.48 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for CM Finance’s earnings. The highest sales estimate is $7.65 million and the lowest is $7.30 million. CM Finance reported sales of $7.59 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The company is expected to report its next earnings results on Wednesday, November 8th.
On average, 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 financial year, analysts anticipate that the company will report sales of $36.22 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CM Finance.
CM Finance (NASDAQ:CMFN) last issued 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 return on equity of 9.42% and a net margin of 76.03%. The firm had revenue of $7.19 million for the quarter, compared to analysts’ expectations of $7.40 million.
Separately, Zacks Investment Research lowered shares of CM Finance from a “buy” rating to a “hold” rating in a research note on Monday, September 11th.
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Shares of CM Finance (CMFN) opened at 9.65 on Friday. CM Finance has a one year low of $8.50 and a one year high of $10.80. The stock has a 50 day moving average price of $9.74 and a 200 day moving average price of $10.12.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.36%. The ex-dividend date of this dividend was Thursday, September 7th. CM Finance’s dividend payout ratio is presently 58.14%.
In related news, CEO Michael Mauer purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average cost of $9.61 per share, with a total value of $38,440.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.79% of the company’s stock.
A number of institutional investors have recently modified their holdings of CMFN. KCG Holdings Inc. purchased a new position in CM Finance in the 1st quarter valued at about $133,000. Eagle Global Advisors LLC lifted its stake in 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 buying an additional 4,500 shares in the last quarter. Stifel Financial Corp lifted its stake in 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 buying an additional 251 shares in the last quarter. Stephens Inc. AR lifted its stake in CM Finance by 2.0% in the 2nd quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock valued at $492,000 after buying an additional 947 shares in the last quarter. Finally, Caxton Corp lifted its stake in 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 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.
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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