New Mountain Finance (NASDAQ:NMFC) Posts Earnings Results, Misses Estimates By $0.01 EPS

New Mountain Finance (NASDAQ:NMFC) posted its earnings results on Wednesday. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01), Briefing.com reports. The business had revenue of $95.33 million for the quarter, compared to analysts’ expectations of $94.10 million. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. New Mountain Finance’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS.

New Mountain Finance Stock Performance

Shares of NMFC traded up $0.18 during mid-day trading on Thursday, reaching $11.51. 1,067,591 shares of the company’s stock were exchanged, compared to its average volume of 399,129. The business’s fifty day simple moving average is $11.92 and its 200-day simple moving average is $12.24. New Mountain Finance has a 52-week low of $11.13 and a 52-week high of $13.23. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.47 and a beta of 1.14. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday.

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.