New Mountain Finance (NASDAQ:NMFC) Issues Earnings Results

Posted by Stacy Sanders on May 4th, 2024

New Mountain Finance (NASDAQ:NMFC – Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02), Briefing.com reports. The firm had revenue of $90.56 million during the quarter, compared to analysts’ expectations of $90.08 million. New Mountain Finance had a net margin of 31.67% and a return on equity of 11.80%. New Mountain Finance’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS.

New Mountain Finance Trading Up 0.6 %

NASDAQ:NMFC traded up $0.07 during trading hours on Friday, hitting $12.70. The company had a trading volume of 376,072 shares, compared to its average volume of 288,392. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 2.92. New Mountain Finance has a 52 week low of $11.38 and a 52 week high of $13.23. The company has a market capitalization of $1.35 billion, a PE ratio of 11.44 and a beta of 1.11. The stock has a 50-day moving average price of $12.60 and a 200 day moving average price of $12.71.

New Mountain Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 10.08%. The ex-dividend date of this dividend is Friday, June 14th. New Mountain Finance’s payout ratio is 115.32%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on NMFC

New Mountain Finance Company Profile

(Get Free Report)

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.