Wall Street analysts expect that Medley Capital Corp (NYSE:MCC) will announce sales of $15.43 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Medley Capital’s earnings, with the lowest sales estimate coming in at $14.06 million and the highest estimate coming in at $16.79 million. Medley Capital reported sales of $22.15 million in the same quarter last year, which would suggest a negative year over year growth rate of 30.3%. The company is expected to issue its next quarterly earnings results on Thursday, December 6th.
On average, analysts expect that Medley Capital will report full year sales of $67.04 million for the current fiscal year, with estimates ranging from $65.67 million to $68.40 million. For the next year, analysts anticipate that the company will post sales of $65.48 million, with estimates ranging from $62.77 million to $68.18 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Medley Capital.
Medley Capital (NYSE:MCC) last issued its earnings results on Thursday, August 9th. The investment management company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Medley Capital had a positive return on equity of 5.03% and a negative net margin of 134.96%. The company had revenue of $13.95 million during the quarter, compared to analysts’ expectations of $18.23 million.
A number of analysts have recently commented on MCC shares. Zacks Investment Research upgraded Medley Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. National Securities restated a “neutral” rating and issued a $3.00 target price on shares of Medley Capital in a research note on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.67.
Shares of MCC traded down $0.06 during mid-day trading on Friday, reaching $3.81. The company had a trading volume of 185,339 shares, compared to its average volume of 267,411. Medley Capital has a 52-week low of $3.35 and a 52-week high of $5.89. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $208.09 million, a price-to-earnings ratio of 5.75 and a beta of 1.13.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Wednesday, September 5th were issued a $0.10 dividend. The ex-dividend date was Tuesday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 10.50%. Medley Capital’s payout ratio is 59.70%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCC. Greenwich Investment Management Inc. acquired a new position in Medley Capital in the 2nd quarter worth about $657,000. Highland Capital Management LP acquired a new position in Medley Capital in the 2nd quarter worth about $339,000. Raymond James & Associates acquired a new position in Medley Capital in the 2nd quarter worth about $187,000. Royal Bank of Canada raised its holdings in Medley Capital by 49.2% in the 1st quarter. Royal Bank of Canada now owns 122,146 shares of the investment management company’s stock worth $486,000 after purchasing an additional 40,257 shares during the period. Finally, Legal & General Group Plc raised its holdings in Medley Capital by 18.1% in the 1st quarter. Legal & General Group Plc now owns 198,160 shares of the investment management company’s stock worth $790,000 after purchasing an additional 30,414 shares during the period. 25.41% of the stock is owned by institutional investors.
About Medley Capital
Medley Capital Corporation is a business development company. The fund seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or conglomerate manufacturing; telecommunications; mining, steel, iron, and non-precious metals; leisure, amusement, motion pictures, and entertainment; chemicals, plastics, and rubber; finance; personal and nondurable consumer products (manufacturing only); beverage, food, and tobacco; containers, packaging, and glass; structure finance securities; machinery (non-agriculture, non-construction, non-electric); diversified or conglomerate service; restaurant and franchise; electronics; and cargo transport.
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