Zacks: Analysts Anticipate Medallion Financial Corp. (NASDAQ:MFIN) Will Post Quarterly Sales of $37.27 Million

Wall Street brokerages expect Medallion Financial Corp. (NASDAQ:MFINGet Rating) to announce $37.27 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Medallion Financial’s earnings, with the lowest sales estimate coming in at $35.33 million and the highest estimate coming in at $39.21 million. Medallion Financial reported sales of $37.26 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Medallion Financial will report full-year sales of $152.82 million for the current financial year, with estimates ranging from $144.13 million to $161.52 million. For the next financial year, analysts forecast that the company will post sales of $188.06 million. Zacks’ sales averages are an average based on a survey of research firms that cover Medallion Financial.

Medallion Financial (NASDAQ:MFINGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The credit services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Medallion Financial had a return on equity of 16.37% and a net margin of 28.27%.

A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Medallion Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. StockNews.com assumed coverage on Medallion Financial in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, B. Riley cut their price objective on Medallion Financial from $13.00 to $12.00 in a report on Tuesday, April 12th.

NASDAQ:MFIN opened at $7.46 on Friday. Medallion Financial has a 52 week low of $3.50 and a 52 week high of $10.05. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $190.28 million, a P/E ratio of 3.38 and a beta of 2.35. The stock’s fifty day moving average is $8.45 and its two-hundred day moving average is $7.99.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 13th. This represents a $0.32 annualized dividend and a dividend yield of 4.29%. Medallion Financial’s dividend payout ratio is currently 14.41%.

Large investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in Medallion Financial by 32.7% during the 1st quarter. Morgan Stanley now owns 21,291 shares of the credit services provider’s stock valued at $151,000 after acquiring an additional 5,247 shares during the last quarter. Raymond James & Associates purchased a new stake in Medallion Financial during the 3rd quarter valued at approximately $167,000. Barclays PLC raised its stake in shares of Medallion Financial by 277.7% during the 3rd quarter. Barclays PLC now owns 4,347 shares of the credit services provider’s stock worth $34,000 after buying an additional 3,196 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Medallion Financial during the 3rd quarter worth approximately $113,000. Finally, Manatuck Hill Partners LLC purchased a new position in shares of Medallion Financial during the 3rd quarter worth approximately $158,000. 27.89% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Company Profile (Get Rating)

Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Medallion Lending. It provides loans that finance consumer purchases of recreational vehicles, boats, and trailers; consumer home improvements; commercial businesses; and taxi medallions to individuals, and small to mid-size businesses.

Featured Articles

Get a free copy of the Zacks research report on Medallion Financial (MFIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Medallion Financial (NASDAQ:MFIN)

Receive News & Ratings for Medallion Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medallion Financial and related companies with MarketBeat.com's FREE daily email newsletter.