New Mountain Finance Co. (NMFC) to Issue Quarterly Dividend of $0.32 on June 28th

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.32 per share on Friday, June 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.08%. The ex-dividend date is Friday, June 14th.

New Mountain Finance has raised its dividend payment by an average of 7.2% annually over the last three years. New Mountain Finance has a payout ratio of 88.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect New Mountain Finance to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 86.5%.

New Mountain Finance Stock Up 0.6 %

NASDAQ NMFC traded up $0.07 during trading on Friday, reaching $12.70. 376,071 shares of the company’s stock were exchanged, compared to its average volume of 422,755. The company has a 50 day moving average price of $12.60 and a two-hundred day moving average price of $12.71. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.92 and a current ratio of 2.92. The stock has a market cap of $1.35 billion, a P/E ratio of 11.44 and a beta of 1.11. New Mountain Finance has a 1 year low of $11.38 and a 1 year high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.02). New Mountain Finance had a net margin of 31.67% and a return on equity of 11.88%. The company had revenue of $90.56 million during the quarter, compared to analyst estimates of $90.08 million. During the same quarter in the prior year, the company earned $0.38 EPS. The business’s revenue was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that New Mountain Finance will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised their price target on New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a report on Monday, January 29th.

About New Mountain Finance

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.