$31.09 Million in Sales Expected for Medallion Financial Corp (MFIN) This Quarter

Equities research analysts predict that Medallion Financial Corp (NASDAQ:MFIN) will post $31.09 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Medallion Financial’s earnings, with estimates ranging from $31.05 million to $31.13 million. Medallion Financial reported sales of $2.02 million during the same quarter last year, which indicates a positive year over year growth rate of 1,439.1%. The company is expected to announce its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Medallion Financial will report full year sales of $111.74 million for the current year. For the next fiscal year, analysts forecast that the firm will report 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 sell-side analysts that that provide coverage for Medallion Financial.

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

MFIN has been the topic of a number of analyst reports. ValuEngine cut Medallion Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 1st. Finally, B. Riley assumed coverage on Medallion Financial in a research report on Friday, September 7th. They issued a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $8.33.

Shares of MFIN opened at $7.14 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Medallion Financial has a 52 week low of $2.09 and a 52 week high of $7.24. The company has a market capitalization of $162.52 million, a PE ratio of 23.03 and a beta of 1.79.

An institutional investor recently bought a new position in Medallion Financial stock. Ridgewood Investments LLC acquired a new stake in Medallion Financial Corp (NASDAQ:MFIN) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,490 shares of the credit services provider’s stock, valued at approximately $107,000. Ridgewood Investments LLC owned approximately 0.08% of Medallion Financial at the end of the most recent quarter. 17.09% of the stock is owned by institutional investors and hedge funds.

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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