New Mountain Finance Co. to Issue Quarterly Dividend of $0.32 (NASDAQ:NMFC)

New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 10.08%. The ex-dividend date of this dividend is Friday, June 14th.

New Mountain Finance has increased its dividend by an average of 7.2% per year over the last three years. New Mountain Finance has a payout ratio of 88.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities 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 Price Performance

Shares of NASDAQ NMFC traded up $0.07 during trading on Friday, hitting $12.70. 376,071 shares of the company were exchanged, compared to its average volume of 422,755. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.92 and a quick ratio of 2.92. The firm's fifty day moving average price is $12.60 and its 200 day moving average price is $12.71. New Mountain Finance has a 1 year low of $11.38 and a 1 year high of $13.23. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 11.49 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their price objective 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.

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.

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