New Mountain Finance (NASDAQ:NMFC – Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26, FiscalAI reports. The business had revenue of $60.41 million for the quarter, compared to analysts’ expectations of $61.07 million. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%.
New Mountain Finance Stock Performance
NMFC stock traded up $0.08 during midday trading on Monday, hitting $7.11. The company’s stock had a trading volume of 885,200 shares, compared to its average volume of 798,679. The stock’s 50-day moving average price is $7.06 and its 200 day moving average price is $7.67. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.30. New Mountain Finance has a 1 year low of $6.47 and a 1 year high of $9.84. The stock has a market cap of $671.54 million, a price-to-earnings ratio of -15.13 and a beta of 0.58.
Analyst Ratings Changes
Several brokerages have recently commented on NMFC. Weiss Ratings downgraded shares of New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods dropped their price target on shares of New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Monday, July 20th. Finally, Wells Fargo & Company cut their price target on shares of New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, New Mountain Finance has a consensus rating of “Reduce” and a consensus target price of $7.67.
Read Our Latest Stock Analysis on New Mountain Finance
New Mountain Finance Company Profile
New Mountain Finance Corporation (NASDAQ: NMFC) is a business development company that provides financing to middle-market businesses. The company is externally managed by New Mountain Finance Advisers, an affiliate of New Mountain Capital, an investment firm focused on growth-oriented companies in industries such as business services, healthcare, software and technology.
New Mountain Finance primarily invests in debt securities, including first-lien, unitranche, second-lien and unsecured loans.
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