Medley Capital Corp Given Consensus Rating of “Buy” by Brokerages (NYSE:MCC)
Medley Capital Corp (NYSE:MCC) has received a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, Analyst Ratings Network.com reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.01.
A number of analysts have recently weighed in on MCC shares. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Medley Capital Corp from $15.00 to $13.75 in a research note on Monday. Separately, analysts at JMP Securities downgraded shares of Medley Capital Corp from an “outperform” rating to a “market perform” rating in a research note on Monday, June 9th. They now have a $15.50 price target on the stock. Finally, analysts at MLV & Co
initiated coverage on shares of Medley Capital Corp in a research note on Tuesday, June 3rd. They set a “buy” rating and a $15.00 price target on the stock.
Shares of Medley Capital Corp (NYSE:MCC) traded up 0.94% during mid-day trading on Monday, hitting $12.95. 107,720 shares of the company’s stock traded hands. Medley Capital Corp has a 1-year low of $12.19 and a 1-year high of $14.80. The stock has a 50-day moving average of $12.88 and a 200-day moving average of $13.27. Medley Capital Corp also was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,025,438 shares, a decrease of 76.2% from the June 30th total of 4,304,977 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 396,609 shares, the short-interest ratio is currently 2.6 days.
Medley Capital Corp (NYSE:MCC) last announced its earnings results on Thursday, July 31st. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.38 by $0.03. On average, analysts predict that Medley Capital Corp will post $1.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Wednesday, August 27th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 11.54%.
Medley Capital Corporation is a non-diversified closed end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies to help these companies fund acquisitions, growth initiatives and working capital requirements or in connection with recapitalizations or other refinancing transactions.
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