Brokerages Expect CM Finance Inc (CMFN) to Announce $0.26 Earnings Per Share
Brokerages forecast that CM Finance Inc (NASDAQ:CMFN) will report earnings of $0.26 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for CM Finance’s earnings, with estimates ranging from $0.25 to $0.26. CM Finance reported earnings of $0.36 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.8%. The company is expected to report its next earnings results on Wednesday, February 14th.
On average, analysts expect that CM Finance will report full year earnings of $1.02 per share for the current year, with EPS estimates ranging from $1.01 to $1.02. For the next year, analysts expect that the firm will report earnings of $1.13 per share. Zacks’ EPS calculations are an average based on a survey of analysts that cover CM Finance.
CM Finance (NASDAQ:CMFN) last released its earnings results on Tuesday, November 7th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). The business had revenue of $6.73 million during the quarter, compared to analysts’ expectations of $7.48 million. CM Finance had a net margin of 74.32% and a return on equity of 8.75%.
Separately, Zacks Investment Research upgraded CM Finance from a “sell” rating to a “hold” rating in a report on Monday, July 17th.
In other CM Finance news, CEO Michael Mauer bought 4,000 shares of the stock in a transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.79% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in 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 buying an additional 134,120 shares during the last quarter. Ares Management LLC increased its position in 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 buying an additional 37,596 shares during the last quarter. Caxton Corp increased its position in 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 buying an additional 1,898 shares during the last quarter. Stephens Inc. AR increased its position in 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 buying an additional 947 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in CM Finance during the third quarter worth $459,000. 44.38% of the stock is currently owned by hedge funds and other institutional investors.
CM Finance (NASDAQ CMFN) traded down $0.05 on Friday, hitting $8.70. The stock had a trading volume of 40,500 shares, compared to its average volume of 28,567. The stock has a market capitalization of $119.10, a price-to-earnings ratio of 8.06 and a beta of 1.37. CM Finance has a one year low of $8.40 and a one year high of $10.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.91 and a quick ratio of 1.93.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 11.49%. CM Finance’s dividend payout ratio is 60.98%.
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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