Zacks: Analysts Set $11.00 Price Target for CM Finance Inc (CMFN)
Shares of CM Finance Inc (NASDAQ:CMFN) have been assigned a consensus broker rating score of 2.50 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a buy rating to the company.
Analysts have set a 1 year consensus price target of $11.00 for the company and are anticipating that the company will post $0.26 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CM Finance an industry rank of 216 out of 265 based on the ratings given to its competitors.
Several analysts have recently commented on CMFN shares. Zacks Investment Research cut CM Finance from a “buy” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine upgraded CM Finance from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, TheStreet cut CM Finance from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st.
CM Finance (NASDAQ:CMFN) last announced its earnings results on Tuesday, November 7th. The investment management company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). The business had revenue of $6.73 million for the quarter, compared to the consensus estimate of $7.48 million. CM Finance had a return on equity of 8.75% and a net margin of 74.32%. research analysts expect that CM Finance will post 1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 11.90%. The ex-dividend date of this dividend is Thursday, December 14th. CM Finance’s dividend payout ratio is 60.98%.
In related news, CEO Michael Mauer bought 4,000 shares of CM Finance stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $9.61 per share, for a total transaction of $38,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.79% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Ares Management LLC raised its position in shares of CM Finance by 55.2% during the second quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock worth $1,056,000 after purchasing an additional 37,596 shares during the period. Stephens Inc. AR raised its position in shares of CM Finance by 2.0% during the second quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock worth $492,000 after purchasing an additional 947 shares during the period. KCG Holdings Inc. acquired a new stake in shares of CM Finance during the first quarter worth about $133,000. Caxton Corp raised its position in shares of CM Finance by 3.6% during the second quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock worth $551,000 after purchasing an additional 1,898 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of CM Finance by 1,788.3% during the third quarter. JPMorgan Chase & Co. now owns 141,620 shares of the investment management company’s stock worth $1,310,000 after purchasing an additional 134,120 shares during the period. Hedge funds and other institutional investors own 45.38% of the company’s stock.
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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