Medallion Financial Corp (MFIN) Expected to Announce Earnings of $0.05 Per Share

Wall Street analysts predict that Medallion Financial Corp (NASDAQ:MFIN) will report earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Medallion Financial’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.08. Medallion Financial posted earnings per share of ($0.13) in the same quarter last year, which would indicate a positive year over year growth rate of 138.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, May 13th.

On average, analysts expect that Medallion Financial will report full year earnings of $0.62 per share for the current year, with EPS estimates ranging from $0.45 to $0.78. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.05 per share. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Medallion Financial.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Wednesday, February 27th. The credit services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.33. Medallion Financial had a negative return on equity of 4.75% and a negative net margin of 17.53%. The business had revenue of $50.63 million during the quarter, compared to analysts’ expectations of $26.37 million.

A number of equities research analysts have recently weighed in on MFIN shares. Zacks Investment Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 6th. ValuEngine cut Medallion Financial from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Northland Securities reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Medallion Financial in a research note on Monday. B. Riley set a $10.00 price objective on Medallion Financial and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, BTIG Research began coverage on Medallion Financial in a research note on Friday, February 22nd. They issued a “buy” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.67.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its stake in Medallion Financial by 92.8% during the 3rd quarter. Virtu Financial LLC now owns 19,866 shares of the credit services provider’s stock worth $132,000 after purchasing an additional 9,561 shares in the last quarter. Deutsche Bank AG grew its stake in Medallion Financial by 93.6% during the 4th quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after purchasing an additional 17,255 shares in the last quarter. Millennium Management LLC acquired a new position in Medallion Financial during the 4th quarter worth $234,000. Morgan Stanley grew its stake in Medallion Financial by 25.5% during the 3rd quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock worth $2,792,000 after purchasing an additional 85,326 shares in the last quarter. Finally, B. Riley Financial Inc. acquired a new position in Medallion Financial during the 3rd quarter worth $665,000. 15.64% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ MFIN traded up $0.14 during trading on Wednesday, reaching $7.02. The stock had a trading volume of 113,020 shares, compared to its average volume of 91,239. Medallion Financial has a fifty-two week low of $3.59 and a fifty-two week high of $7.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $167.10 million, a PE ratio of -13.00 and a beta of 1.74.

Medallion Financial Company Profile

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

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