New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Tuesday, December 17th will be paid a dividend of 0.33 per share on Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 11.89%. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from New Mountain Finance's previous quarterly dividend of $0.32.
New Mountain Finance has a payout ratio of 92.1% meaning 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 $1.34 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 95.5%.
New Mountain Finance Trading Down 2.9 %
Shares of NMFC traded down $0.33 on Friday, reaching $11.10. 901,060 shares of the company's stock were exchanged, compared to its average volume of 402,587. The business has a 50 day moving average price of $11.88 and a two-hundred day moving average price of $12.23. New Mountain Finance has a 12 month low of $11.03 and a 12 month high of $13.23. The stock has a market capitalization of $1.20 billion, a P/E ratio of 10.57 and a beta of 1.14. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.40.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.26%. The business had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business's revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that New Mountain Finance will post 1.41 earnings per share for the current year.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company reduced their target price on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday.
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About New Mountain Finance
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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.
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