Evertec (EVTC) Rating Lowered to Strong Sell at Zacks Investment Research

Evertec (NYSE:EVTC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Monday.

According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Evertec from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. ValuEngine downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub downgraded shares of Evertec from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Stifel Nicolaus reduced their price objective on shares of Evertec from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Finally, Morgan Stanley reduced their price objective on shares of Evertec from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $17.83.

Shares of Evertec (NYSE:EVTC) traded down $0.10 on Monday, hitting $14.05. 498,000 shares of the stock traded hands, compared to its average volume of 596,267. Evertec has a twelve month low of $12.60 and a twelve month high of $19.52. The firm has a market capitalization of $1,038.80, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.08.

Evertec (NYSE:EVTC) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.08). Evertec had a return on equity of 95.54% and a net margin of 15.92%. The business had revenue of $102.70 million for the quarter, compared to analyst estimates of $97.11 million. During the same quarter last year, the company posted $0.41 EPS. Evertec’s quarterly revenue was up 8.7% on a year-over-year basis. sell-side analysts forecast that Evertec will post 1.35 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of EVTC. Thrivent Financial For Lutherans increased its holdings in Evertec by 1,152.5% in the second quarter. Thrivent Financial For Lutherans now owns 867,111 shares of the business services provider’s stock valued at $15,001,000 after buying an additional 797,881 shares in the last quarter. Boston Partners increased its holdings in Evertec by 79.7% in the third quarter. Boston Partners now owns 1,634,218 shares of the business services provider’s stock valued at $25,902,000 after buying an additional 725,051 shares in the last quarter. Capital Research Global Investors increased its holdings in Evertec by 32.2% in the second quarter. Capital Research Global Investors now owns 2,438,000 shares of the business services provider’s stock valued at $42,177,000 after buying an additional 594,000 shares in the last quarter. River Road Asset Management LLC increased its holdings in Evertec by 318.1% in the third quarter. River Road Asset Management LLC now owns 699,470 shares of the business services provider’s stock valued at $11,087,000 after buying an additional 532,172 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Evertec in the second quarter valued at about $5,037,000. 79.34% of the stock is owned by institutional investors.

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About Evertec

EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.

Analyst Recommendations for Evertec (NYSE:EVTC)

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