Wall Street brokerages expect CM Finance Inc (NASDAQ:CMFN) to post $7.67 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CM Finance’s earnings, with the highest sales estimate coming in at $7.84 million and the lowest estimate coming in at $7.50 million. CM Finance reported sales of $9.15 million in the same quarter last year, which indicates a negative year-over-year growth rate of 16.2%. The business is expected to report its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that CM Finance will report full-year sales of $7.67 million for the current year, with estimates ranging from $30.00 million to $30.93 million. For the next fiscal year, analysts anticipate that the business will report sales of $34.28 million per share, with estimates ranging from $32.90 million to $35.66 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CM Finance.
CM Finance (NASDAQ:CMFN) last released its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). CM Finance had a net margin of 74.32% and a return on equity of 8.75%. The firm had revenue of $6.73 million for the quarter, compared to the consensus estimate of $7.48 million.
CM Finance (NASDAQ:CMFN) opened at $8.55 on Tuesday. CM Finance has a twelve month low of $7.40 and a twelve month high of $10.80. The company has a market capitalization of $117.05, a price-to-earnings ratio of 5.21 and a beta of 1.34. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.75.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.70%. CM Finance’s payout ratio is 60.98%.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in shares of CM Finance during the third quarter valued at about $459,000. Caxton Corp grew 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 valued at $551,000 after purchasing an additional 1,898 shares in the last quarter. Ares Management LLC grew 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 valued at $1,056,000 after purchasing an additional 37,596 shares in the last quarter. Finally, JPMorgan Chase & Co. grew 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 valued at $1,310,000 after purchasing an additional 134,120 shares in the last quarter. Hedge funds and other institutional investors own 44.96% of the company’s stock.
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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