Zacks Investment Research upgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a sell rating to a hold rating in a research note published on Monday, February 5th.
According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “
A number of other research analysts have also weighed in on the company. DA Davidson raised their price objective on Euronet Worldwide to $118.00 and gave the company a buy rating in a research report on Thursday, February 1st. BidaskClub lowered Euronet Worldwide from a hold rating to a sell rating in a research report on Wednesday, January 31st. William Blair downgraded shares of Euronet Worldwide from an outperform rating to a market perform rating in a report on Monday, December 18th. Goldman Sachs Group assumed coverage on shares of Euronet Worldwide in a report on Thursday, December 14th. They issued a buy rating and a $110.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $112.00 price target on shares of Euronet Worldwide in a report on Sunday, October 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $111.71.
Shares of Euronet Worldwide (EEFT) traded down $0.77 during trading on Monday, hitting $79.08. The stock had a trading volume of 91,670 shares, compared to its average volume of 619,652. The stock has a market capitalization of $4,210.00, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.50. Euronet Worldwide has a 52-week low of $76.26 and a 52-week high of $101.07.
Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. The firm had revenue of $604.60 million during the quarter, compared to analyst estimates of $609.53 million. Euronet Worldwide had a return on equity of 22.41% and a net margin of 6.97%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. sell-side analysts forecast that Euronet Worldwide will post 5.07 earnings per share for the current fiscal year.
In other Euronet Worldwide news, CEO Michael J. Brown sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $91.22, for a total value of $1,824,400.00. Following the completion of the sale, the chief executive officer now owns 1,522,348 shares of the company’s stock, valued at $138,868,584.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rick Weller sold 12,400 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $92.01, for a total transaction of $1,140,924.00. Following the completion of the sale, the chief financial officer now directly owns 80,285 shares of the company’s stock, valued at approximately $7,387,022.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,297 shares of company stock valued at $4,428,004. 7.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. American International Group Inc. bought a new stake in Euronet Worldwide in the fourth quarter worth about $100,000. Bristlecone Advisors LLC bought a new stake in Euronet Worldwide in the third quarter worth about $113,000. FNY Managed Accounts LLC bought a new stake in Euronet Worldwide in the fourth quarter worth about $126,000. The Manufacturers Life Insurance Company lifted its stake in Euronet Worldwide by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock worth $149,000 after purchasing an additional 116 shares during the last quarter. Finally, Turner Investments LLC bought a new stake in Euronet Worldwide in the third quarter worth about $174,000. 95.62% of the stock is owned by institutional investors and hedge funds.
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Euronet Worldwide Company Profile
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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