Medifast (NYSE:MED) Issues Earnings Results, Misses Expectations By $0.01 EPS

Medifast (NYSE:MED) issued its earnings results on Thursday. The specialty retailer reported $1.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.01), reports. The business had revenue of $190.10 million for the quarter, compared to the consensus estimate of $194.70 million. Medifast had a return on equity of 61.06% and a net margin of 11.22%. The company’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. Medifast updated its Q4 guidance to $1.03-.13 EPS.

Shares of NYSE:MED traded down $27.64 during trading on Friday, reaching $74.36. 3,379,003 shares of the company traded hands, compared to its average volume of 294,247. The firm has a fifty day simple moving average of $103.69 and a 200 day simple moving average of $117.92. The firm has a market cap of $1.33 billion, a P/E ratio of 16.10 and a beta of 0.71. Medifast has a 1-year low of $66.50 and a 1-year high of $165.70.

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

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

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Earnings History for Medifast (NYSE:MED)

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