MCG Capital Earnings: Here’s Why the Stock is Falling Now
MCG Capital Corporation (NASDAQ:MCGC) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.93%.
MCG Capital Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 120% to $0.11 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Decreased 24.26% to $13.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MCG Capital Corporation reported adjusted EPS income of $0.11 per share. By that measure, the company missed the mean analyst estimate of $0.11. It missed the average revenue estimate of $13.54 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 0.89% from $13.42 million in the previous quarter. EPS increased 57.14% from $0.07 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.11 to a profit $0.12. For the current year, the average estimate has moved up from a profit of $0.46 to a profit of $0.48 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)