Zacks: Brokerages Anticipate Medallion Financial Corp (MFIN) to Announce $0.05 Earnings Per Share

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Analysts predict that Medallion Financial Corp (NASDAQ:MFIN) will post $0.05 earnings per share (EPS) for the current quarter, Zacks 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 company is scheduled to issue its next quarterly earnings results on Monday, May 13th.

According to Zacks, analysts expect that Medallion Financial will report full-year earnings of $0.62 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.78. For the next fiscal year, analysts forecast that the business will report earnings of $1.05 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Medallion Financial.

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

MFIN has been the subject of a number of analyst reports. ValuEngine upgraded Medallion Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. BTIG Research started coverage on Medallion Financial in a report on Friday, February 22nd. They issued a “buy” rating and a $10.00 price objective on the stock. B. Riley set a $10.00 price objective on Medallion Financial and gave the company a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 6th. Finally, Northland Securities reiterated a “buy” rating and issued a $12.00 price objective on shares of Medallion Financial in a report on Monday. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $10.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its holdings in Medallion Financial by 92.8% in the third quarter. Virtu Financial LLC now owns 19,866 shares of the credit services provider’s stock valued at $132,000 after acquiring an additional 9,561 shares during the last quarter. Deutsche Bank AG lifted its holdings in Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock valued at $166,000 after acquiring an additional 17,255 shares during the last quarter. Millennium Management LLC acquired a new position in Medallion Financial in the fourth quarter valued at approximately $234,000. Seacliff Capital LLC acquired a new position in Medallion Financial in the fourth quarter valued at approximately $528,000. Finally, B. Riley Financial Inc. acquired a new position in Medallion Financial in the third quarter valued at approximately $665,000. Hedge funds and other institutional investors own 15.64% of the company’s stock.

Shares of MFIN stock traded down $0.11 during trading hours on Wednesday, reaching $6.91. The company had a trading volume of 46,985 shares, compared to its average volume of 62,728. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $169.54 million, a PE ratio of -12.80 and a beta of 1.74. Medallion Financial has a 12-month low of $3.59 and a 12-month high of $7.29.

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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