Q3 2020 EPS Estimates for Medifast Inc Lowered by Jefferies Financial Group (NYSE:MED)

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Medifast Inc (NYSE:MED) – Research analysts at Jefferies Financial Group cut their Q3 2020 earnings per share (EPS) estimates for shares of Medifast in a research note issued on Thursday, November 7th. Jefferies Financial Group analyst S. Wissink now forecasts that the specialty retailer will earn $1.51 per share for the quarter, down from their prior forecast of $1.76. Jefferies Financial Group currently has a “Buy” rating and a $130.00 target price on the stock. Jefferies Financial Group also issued estimates for Medifast’s Q1 2021 earnings at $2.18 EPS, Q2 2021 earnings at $2.24 EPS, Q3 2021 earnings at $1.89 EPS and FY2021 earnings at $8.52 EPS.

Medifast (NYSE:MED) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $1.32 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $194.70 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Medifast’s revenue was up 36.5% on a year-over-year basis.

Several other equities analysts also recently commented on the company. DA Davidson downgraded Medifast from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $74.00 in a research report on Friday. ValuEngine downgraded Medifast from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded Medifast from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, Dougherty & Co downgraded Medifast from a “buy” rating to a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Medifast presently has a consensus rating of “Hold” and a consensus target price of $134.00.

Shares of Medifast stock opened at $80.57 on Monday. The stock’s 50-day simple moving average is $102.39 and its 200-day simple moving average is $117.21. Medifast has a 52 week low of $66.50 and a 52 week high of $165.70. The company has a market capitalization of $902.15 million, a price-to-earnings ratio of 17.44 and a beta of 0.71.

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

Large investors have recently bought and sold shares of the stock. Sandy Spring Bank purchased a new stake in shares of Medifast in the second quarter worth about $26,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Medifast in the third quarter worth about $30,000. Financial Gravity Wealth Inc. lifted its position in shares of Medifast by 853.8% in the second quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock worth $32,000 after buying an additional 222 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of Medifast in the second quarter worth about $49,000. Finally, Anderson Fisher LLC purchased a new stake in shares of Medifast in the second quarter worth about $80,000. Institutional investors own 97.24% of the company’s stock.

Medifast Company Profile

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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