Wall Street brokerages expect Medallion Financial Corp (NASDAQ:MFIN) to report sales of $31.09 million for the current quarter, according to Zacks. Two analysts have issued estimates for Medallion Financial’s earnings, with the highest sales estimate coming in at $31.27 million and the lowest estimate coming in at $30.90 million. Medallion Financial reported sales of $33.71 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.8%. The business is scheduled to report its next quarterly earnings results on Monday, November 11th.
On average, analysts expect that Medallion Financial will report full year sales of $115.07 million for the current financial year, with estimates ranging from $113.83 million to $116.30 million. For the next fiscal year, analysts forecast that the company will post sales of $143.79 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Medallion Financial.
Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Monday, August 5th. The credit services provider reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.36). The business had revenue of $24.88 million for the quarter, compared to analysts’ expectations of $31.52 million. Medallion Financial had a negative net margin of 1.05% and a negative return on equity of 0.63%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Medallion Financial in the second quarter worth approximately $6,671,000. Tieton Capital Management LLC boosted its position in shares of Medallion Financial by 7.6% in the second quarter. Tieton Capital Management LLC now owns 227,345 shares of the credit services provider’s stock worth $1,532,000 after acquiring an additional 16,070 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Medallion Financial by 10.1% in the first quarter. Advisor Group Inc. now owns 190,318 shares of the credit services provider’s stock worth $1,313,000 after acquiring an additional 17,494 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Medallion Financial by 83.5% in the second quarter. Bank of New York Mellon Corp now owns 132,659 shares of the credit services provider’s stock worth $894,000 after acquiring an additional 60,359 shares during the last quarter. Finally, Vanguard Group Inc. acquired a new stake in shares of Medallion Financial in the second quarter worth approximately $514,000. Institutional investors and hedge funds own 22.32% of the company’s stock.
Shares of NASDAQ MFIN traded down $0.01 during midday trading on Thursday, reaching $6.60. 245,369 shares of the stock were exchanged, compared to its average volume of 105,081. The company has a market capitalization of $162.60 million, a P/E ratio of -12.22 and a beta of 1.48. Medallion Financial has a 52-week low of $4.07 and a 52-week high of $7.80. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average price of $5.03 and a 200-day moving average price of $6.17.
About Medallion Financial
Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.
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