MCG Capital Corp. Price Target Cut to $4.50 (MCGC)
Investment analysts at Compass Point decreased their price target on shares of MCG Capital Corp. (NASDAQ:MCGC) from $5.25 to $4.50 in a note issued to investors on Monday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. Compass Point’s target price would suggest a potential downside of 6.64% from the stock’s previous close.
Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of MCG Capital Corp. from $5.50 to $5.00 in a research note to investors on Thursday.
MCG Capital Corp. (NASDAQ:MCGC) traded up 1.69% during mid-day trading on Monday, hitting $4.82. The stock had a trading volume of 577,833 shares. MCG Capital Corp. has a 1-year low of $4.01 and a 1-year high of $5.55. The stock has a 50-day moving average of $5.04 and a 200-day moving average of $5.10. The company has a market cap of $343.3 million and a price-to-earnings ratio of 13.20.
MCG Capital Corp. (NASDAQ:MCGC) last released its earnings data on Tuesday, October 29th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.12 by $0.01. The company had revenue of $13.20 million for the quarter, compared to the consensus estimate of $13.64 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that MCG Capital Corp. will post $0.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.50 dividend on an annualized basis and a yield of 10.37%. The ex-dividend date of this dividend is Wednesday, November 6th.
MCG Capital Corporation is a solutions-focused commercial finance company that provides capital and advisory services to middle-market companies throughout the United States.
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