CM Finance Inc (NASDAQ:CMFN) Expected to Announce Quarterly Sales of $7.40 Million
Equities analysts predict that CM Finance Inc (NASDAQ:CMFN) will announce sales of $7.40 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CM Finance’s earnings. The lowest sales estimate is $7.39 million and the highest is $7.40 million. CM Finance posted sales of $7.82 million during the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The business is scheduled to issue its next earnings report on Tuesday, August 29th.
On average, analysts expect that CM Finance will report full-year sales of $7.40 million for the current year, with estimates ranging from $31.20 million to $31.21 million. For the next year, analysts forecast that the company will post sales of $30.76 million per share, with estimates ranging from $30.20 million to $31.32 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CM Finance.
CM Finance (NASDAQ:CMFN) last released its quarterly earnings data on Wednesday, May 10th. The investment management company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $7.08 million during the quarter, compared to analyst estimates of $7.24 million. CM Finance had a return on equity of 10.11% and a net margin of 72.19%.
Separately, Zacks Investment Research downgraded shares of CM Finance from a “hold” rating to a “strong sell” rating in a report on Monday, May 15th.
Hedge funds have recently bought and sold shares of the stock. KCG Holdings Inc. acquired a new stake in CM Finance during the first quarter worth about $133,000. Eagle Global Advisors LLC increased its stake in CM Finance by 30.0% in the first quarter. Eagle Global Advisors LLC now owns 22,717 shares of the investment management company’s stock worth $231,000 after buying an additional 5,240 shares during the period. Stifel Financial Corp increased its stake in CM Finance by 0.7% in the first quarter. Stifel Financial Corp now owns 36,556 shares of the investment management company’s stock worth $367,000 after buying an additional 251 shares during the period. Stephens Inc. AR increased its stake in CM Finance by 2.8% in the first quarter. Stephens Inc. AR now owns 48,218 shares of the investment management company’s stock worth $489,000 after buying an additional 1,328 shares during the period. Finally, Ares Management LLC increased its stake in CM Finance by 27.1% in the first quarter. Ares Management LLC now owns 68,100 shares of the investment management company’s stock worth $691,000 after buying an additional 14,500 shares during the period. Institutional investors own 42.51% of the company’s stock.
CM Finance (CMFN) opened at 10.10 on Friday. CM Finance has a 1-year low of $8.50 and a 1-year high of $10.80. The stock has a 50 day moving average price of $10.16 and a 200-day moving average price of $10.16.
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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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