Medley Capital Corp (MCC) Announces $0.16 Quarterly Dividend

Medley Capital Corp (NYSE:MCC) announced a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Wednesday, February 21st will be given a dividend of 0.16 per share by the investment management company on Friday, March 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 14.68%. The ex-dividend date of this dividend is Tuesday, February 20th.

Medley Capital has decreased its dividend by an average of 22.1% per year over the last three years. Medley Capital has a dividend payout ratio of 97.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Medley Capital to earn $0.64 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 100.0%.

Medley Capital (NYSE:MCC) traded down $0.18 during mid-day trading on Wednesday, hitting $4.36. 976,051 shares of the company were exchanged, compared to its average volume of 348,350. The company has a debt-to-equity ratio of 1.06, a quick ratio of 11.02 and a current ratio of 11.02. Medley Capital has a 1-year low of $4.31 and a 1-year high of $8.05. The firm has a market cap of $237.51, a PE ratio of -15.57, a PEG ratio of 1.47 and a beta of 1.15.

Medley Capital (NYSE:MCC) last released its quarterly earnings data on Tuesday, February 6th. The investment management company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Medley Capital had a positive return on equity of 7.50% and a negative net margin of 15.66%. The firm had revenue of $20.63 million during the quarter, compared to analyst estimates of $22.19 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue was down 20.8% on a year-over-year basis. analysts expect that Medley Capital will post 0.66 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Medley Capital from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday. National Securities dropped their price objective on shares of Medley Capital from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday. ValuEngine cut shares of Medley Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut shares of Medley Capital from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods set a $6.00 price objective on shares of Medley Capital and gave the stock a “hold” rating in a report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.63.

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Medley Capital Company Profile

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, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions.

Dividend History for Medley Capital (NYSE:MCC)

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