New Mountain Finance Corp. (NYSE:NMFC) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Shareholders of record on Friday, September 14th will be given a dividend of 0.34 per share by the investment management company on Friday, September 28th. This represents a $1.36 annualized dividend and a dividend yield of 9.65%. The ex-dividend date is Thursday, September 13th.
New Mountain Finance has a dividend payout ratio of 99.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect New Mountain Finance to earn $1.38 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 98.6%.
Shares of NYSE NMFC traded down $0.05 during trading on Wednesday, hitting $14.10. The company had a trading volume of 448,447 shares, compared to its average volume of 301,378. The stock has a market capitalization of $1.07 billion, a P/E ratio of 10.93 and a beta of 0.54. New Mountain Finance has a 52 week low of $12.05 and a 52 week high of $14.70. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01.
New Mountain Finance (NYSE:NMFC) last posted its quarterly earnings results on Tuesday, August 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The company had revenue of $54.60 million during the quarter, compared to the consensus estimate of $53.10 million. New Mountain Finance had a net margin of 49.57% and a return on equity of 10.27%. research analysts forecast that New Mountain Finance will post 1.37 earnings per share for the current year.
NMFC has been the topic of several recent analyst reports. TheStreet downgraded shares of New Mountain Finance from a “b” rating to a “c+” rating in a research note on Wednesday, April 11th. Zacks Investment Research downgraded shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, ValuEngine downgraded shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, June 5th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.00.
About New Mountain Finance
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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