Medifast (NYSE:MED – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of -0.700–0.050 for the period, compared to the consensus earnings per share estimate of -0.520. The company issued revenue guidance of $125.0 million-$145.0 million, compared to the consensus revenue estimate of $161.8 million.
Medifast Trading Up 2.3 %
Shares of MED traded up $0.47 during trading hours on Wednesday, reaching $20.74. 241,354 shares of the company traded hands, compared to its average volume of 467,229. The firm has a market cap of $226.83 million, a price-to-earnings ratio of 3.27 and a beta of 1.15. Medifast has a 12-month low of $17.86 and a 12-month high of $100.00. The stock’s fifty day moving average price is $20.59 and its 200 day moving average price is $31.66.
Medifast (NYSE:MED – Get Free Report) last released its quarterly earnings data on Monday, August 5th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.56. The company had revenue of $168.56 million during the quarter, compared to analysts’ expectations of $160.44 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. During the same period in the previous year, the company earned $2.77 EPS. On average, research analysts forecast that Medifast will post 0.94 earnings per share for the current year.
Analyst Upgrades and Downgrades
About Medifast
Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.
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