Medifast (NYSE:MED) Issues Q4 Earnings Guidance

Medifast (NYSE:MED) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.03-.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.04. The company issued revenue guidance of $157-167 million, compared to the consensus revenue estimate of $202.43 million.

Medifast stock traded down $27.64 during midday trading on Friday, reaching $74.36. The stock had a trading volume of 3,384,711 shares, compared to its average volume of 294,247. Medifast has a twelve month low of $66.50 and a twelve month high of $165.70. The stock has a market capitalization of $1.33 billion, a PE ratio of 16.10 and a beta of 0.71. The stock’s 50-day simple moving average is $103.69 and its 200 day simple moving average is $117.92.

Medifast (NYSE:MED) last issued its earnings results on Thursday, November 7th. The specialty retailer reported $1.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.01). Medifast had a net margin of 11.22% and a return on equity of 61.06%. The firm had revenue of $190.10 million during the quarter, compared to analyst estimates of $194.70 million. During the same quarter in the previous year, the business posted $1.14 EPS. Medifast’s revenue was up 36.5% compared to the same quarter last year. Analysts predict that Medifast will post 6.86 EPS for the current year.

The company also recently announced a — dividend, which was paid on Thursday, November 7th. Investors of record on Friday, September 27th were issued a $0.75 dividend. This represents a yield of 2.8%. The ex-dividend date was Thursday, September 26th. Medifast’s payout ratio is currently 64.94%.

A number of research analysts recently weighed in on MED shares. Jefferies Financial Group started coverage on Medifast in a report on Thursday, July 25th. They issued a buy rating and a $130.00 target price on the stock. ValuEngine cut Medifast from a hold rating to a sell rating in a report on Friday. Zacks Investment Research cut Medifast from a buy rating to a hold rating in a report on Thursday, October 3rd. Dougherty & Co cut Medifast from a buy rating to a neutral rating in a report on Friday. Finally, DA Davidson lowered Medifast from a buy rating to a neutral rating and cut their price objective for the company from $250.00 to $74.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Medifast presently has a consensus rating of Hold and an average price target of $134.00.

About Medifast

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

See Also: Buy-Side Analysts

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