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

New Mountain Finance Co. (NASDAQ:NMFC) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.32 per share on Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 10.40%. The ex-dividend date is Monday, September 16th.

New Mountain Finance has a dividend payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect New Mountain Finance to earn $1.36 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 94.1%.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $12.31 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of 11.09 and a beta of 1.14. New Mountain Finance has a 52 week low of $11.60 and a 52 week high of $13.23. The firm’s fifty day moving average is $12.25 and its 200-day moving average is $12.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.75 and a current ratio of 1.75.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $94.59 million for the quarter, compared to analyst estimates of $90.25 million. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. During the same period in the previous year, the firm earned $0.39 earnings per share. Sell-side analysts predict that New Mountain Finance will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd.

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.