Medley Capital Corporation Expected to Earn FY2019 Earnings of $0.65 Per Share (MCC)
Medley Capital Corporation (NYSE:MCC) – Jefferies Group issued their FY2019 EPS estimates for shares of Medley Capital in a report released on Tuesday. Jefferies Group analyst K. Joseph forecasts that the investment management company will post earnings per share of $0.65 for the year. Jefferies Group has a “Hold” rating and a $6.50 price objective on the stock.
Medley Capital (NYSE:MCC) last posted its quarterly earnings data on Thursday, December 7th. The investment management company reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Medley Capital had a positive return on equity of 7.50% and a negative net margin of 15.66%. The business had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $23.51 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was down 18.7% on a year-over-year basis.
Medley Capital (NYSE MCC) traded down $0.04 during mid-day trading on Thursday, reaching $5.38. The company’s stock had a trading volume of 296,157 shares, compared to its average volume of 346,034. 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 twelve month low of $5.35 and a twelve month high of $8.05. The stock has a market capitalization of $294.16, a PE ratio of 7.94, a P/E/G ratio of 1.71 and a beta of 1.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.90%. Medley Capital’s dividend payout ratio is presently -246.15%.
Several hedge funds and other institutional investors have recently modified their holdings of MCC. Roumell Asset Management LLC purchased a new position in shares of Medley Capital during the 3rd quarter valued at $2,602,000. JPMorgan Chase & Co. lifted its position in shares of Medley Capital by 100.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,356 shares of the investment management company’s stock valued at $1,980,000 after buying an additional 168,651 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Medley Capital by 369.1% during the 2nd quarter. Arete Wealth Advisors LLC now owns 134,270 shares of the investment management company’s stock valued at $858,000 after buying an additional 105,650 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Medley Capital by 31.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 398,117 shares of the investment management company’s stock valued at $2,544,000 after buying an additional 94,909 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Medley Capital during the 3rd quarter valued at $311,000. 29.34% of the stock is currently owned by hedge funds and other institutional investors.
About Medley Capital
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.
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