Medallion Financial Corp (MFIN) Expected to Announce Quarterly Sales of $31.09 Million

Wall Street brokerages expect Medallion Financial Corp (NASDAQ:MFIN) to post $31.09 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Medallion Financial’s earnings. The highest sales estimate is $31.13 million and the lowest is $31.05 million. Medallion Financial posted sales of $2.02 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,439.1%. The firm is expected to report its next earnings results on Tuesday, November 6th.

On average, analysts expect that Medallion Financial will report full year sales of $111.74 million for the current financial year. For the next financial year, analysts anticipate that the business will post sales of $133.71 million, with estimates ranging from $122.73 million to $144.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Medallion Financial.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, August 14th. The credit services provider reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.20). The firm had revenue of $29.60 million for the quarter. Medallion Financial had a negative return on equity of 8.25% and a negative net margin of 47.96%.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Medallion Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 17th. ValuEngine upgraded Medallion Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Finally, B. Riley assumed coverage on Medallion Financial in a research note on Friday, September 7th. They set a “buy” rating and a $10.00 price target for the company. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.33.

An institutional investor recently bought a new position in Medallion Financial stock. Ridgewood Investments LLC bought a new position in Medallion Financial Corp (NASDAQ:MFIN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,490 shares of the credit services provider’s stock, valued at approximately $107,000. Ridgewood Investments LLC owned 0.08% of Medallion Financial at the end of the most recent reporting period. 17.33% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MFIN traded up $0.40 on Thursday, hitting $7.20. 120,230 shares of the stock were exchanged, compared to its average volume of 120,375. The firm has a market capitalization of $175.96 million, a PE ratio of 23.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Medallion Financial has a fifty-two week low of $2.09 and a fifty-two week high of $7.25.

Medallion Financial Company Profile

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.

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