Brokerages Expect Medallion Financial Corp (MFIN) Will Post Quarterly Sales of $26.37 Million

Wall Street brokerages expect Medallion Financial Corp (NASDAQ:MFIN) to report sales of $26.37 million for the current quarter, Zacks reports. Two analysts have made estimates for Medallion Financial’s earnings, with estimates ranging from $25.16 million to $27.57 million. Medallion Financial reported sales of $2.62 million during the same quarter last year, which indicates a positive year over year growth rate of 906.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Medallion Financial will report full year sales of $105.60 million for the current year. For the next year, analysts anticipate that the business will report sales of $131.29 million, with estimates ranging from $122.20 million to $140.37 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 quarterly earnings data on Tuesday, November 13th. The credit services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.30). Medallion Financial had a negative return on equity of 9.06% and a negative net margin of 34.18%. The company had revenue of $33.71 million for the quarter, compared to the consensus estimate of $32.07 million.

Several equities analysts have recently weighed in on MFIN shares. B. Riley set a $10.00 price target on Medallion Financial and gave the company a “buy” rating in a report on Wednesday, November 14th. Zacks Investment Research upgraded Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, ValuEngine upgraded Medallion Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $8.33.

Shares of NASDAQ:MFIN traded down $0.01 on Friday, hitting $5.98. 36,376 shares of the company traded hands, compared to its average volume of 78,053. Medallion Financial has a 52 week low of $2.64 and a 52 week high of $7.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $146.15 million, a PE ratio of 19.29 and a beta of 1.56.

Several large investors have recently modified their holdings of MFIN. Ridgewood Investments LLC bought a new position in shares of Medallion Financial in the second quarter worth approximately $107,000. Virtu Financial LLC grew its holdings in Medallion Financial by 92.8% during the third quarter. Virtu Financial LLC now owns 19,866 shares of the credit services provider’s stock worth $132,000 after acquiring an additional 9,561 shares during the period. B. Riley Financial Inc. acquired a new stake in Medallion Financial during the third quarter worth about $665,000. EAM Investors LLC acquired a new stake in Medallion Financial during the third quarter worth about $831,000. Finally, Morgan Stanley grew its holdings in Medallion Financial by 25.5% during the third quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock worth $2,792,000 after acquiring an additional 85,326 shares during the period. Hedge funds and other institutional investors own 19.00% of the company’s stock.

About Medallion Financial

Medallion Financial Corp., through with its subsidiaries, operates as a specialty 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.

See Also: Capital Gains

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

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