Equities research analysts forecast that Medley Capital Corp (NYSE:MCC) will post $15.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Medley Capital’s earnings. The highest sales estimate is $16.79 million and the lowest is $14.06 million. Medley Capital posted sales of $22.15 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 30.3%. The company is scheduled 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 year, with estimates ranging from $65.67 million to $68.40 million. For the next year, analysts expect 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 an average based on a survey of analysts that follow Medley Capital.
A number of brokerages have recently commented on MCC. Zacks Investment Research raised Medley Capital from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. National Securities reaffirmed a “neutral” rating and set a $3.00 target price on shares of Medley Capital in a report on Wednesday, August 15th. Five analysts have rated the stock with a hold rating, Medley Capital currently has an average rating of “Hold” and an average price target of $4.67.
Shares of MCC opened at $3.52 on Friday. The firm has a market cap of $191.75 million, a PE ratio of 5.25 and a beta of 1.06. The company has a current ratio of 11.00, a quick ratio of 11.00 and a debt-to-equity ratio of 1.21. Medley Capital has a one year low of $3.35 and a one year high of $5.88.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Wednesday, December 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 11.36%. The ex-dividend date of this dividend is Tuesday, December 4th. Medley Capital’s payout ratio is currently 59.70%.
A number of large investors have recently added to or reduced their stakes in MCC. Greenwich Investment Management Inc. acquired a new position in Medley Capital during the second quarter worth about $657,000. Morgan Stanley grew its holdings in Medley Capital by 41.3% during the third quarter. Morgan Stanley now owns 429,446 shares of the investment management company’s stock worth $1,640,000 after acquiring an additional 125,469 shares during the period. LPL Financial LLC grew its holdings in Medley Capital by 135.9% during the third quarter. LPL Financial LLC now owns 180,310 shares of the investment management company’s stock worth $689,000 after acquiring an additional 103,876 shares during the period. Highland Capital Management LP acquired a new position in Medley Capital during the second quarter worth about $339,000. Finally, Mackenzie Financial Corp grew its holdings in Medley Capital by 73.1% during the third quarter. Mackenzie Financial Corp now owns 135,850 shares of the investment management company’s stock worth $519,000 after acquiring an additional 57,380 shares during the period. 24.54% of the stock is currently owned by hedge funds and other institutional investors.
Medley Capital Company Profile
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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