Zacks: Analysts Expect Evertec Inc (EVTC) Will Announce Quarterly Sales of $110.84 Million

Equities analysts forecast that Evertec Inc (NYSE:EVTC) will post sales of $110.84 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Evertec’s earnings, with the highest sales estimate coming in at $113.01 million and the lowest estimate coming in at $108.90 million. Evertec reported sales of $103.51 million during the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Evertec will report full-year sales of $435.66 million for the current year, with estimates ranging from $434.34 million to $439.50 million. For the next year, analysts forecast that the company will post sales of $459.21 million per share, with estimates ranging from $449.29 million to $471.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Evertec.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.16. The business had revenue of $110.27 million for the quarter, compared to analyst estimates of $101.96 million. Evertec had a return on equity of 72.62% and a net margin of 13.23%. Evertec’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS.

EVTC has been the topic of several recent analyst reports. ValuEngine raised Evertec from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. JPMorgan Chase raised Evertec from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Evertec from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Friday, May 4th. Cowen reaffirmed a “hold” rating and issued a $18.00 price target on shares of Evertec in a research note on Friday, March 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Evertec in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Evertec currently has a consensus rating of “Buy” and a consensus target price of $18.00.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantitative Systematic Strategies LLC bought a new position in Evertec in the 4th quarter valued at $141,000. Summit Trail Advisors LLC raised its position in Evertec by 11,437.9% in the 1st quarter. Summit Trail Advisors LLC now owns 154,838 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 153,496 shares during the last quarter. Profund Advisors LLC bought a new position in Evertec in the 1st quarter valued at $181,000. Cigna Investments Inc. New bought a new position in Evertec in the 4th quarter valued at $203,000. Finally, Ramsey Quantitative Systems bought a new position in Evertec in the 4th quarter valued at $221,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

EVTC stock traded down $0.35 during trading on Thursday, hitting $21.55. The company had a trading volume of 409,800 shares, compared to its average volume of 1,020,409. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 3.09 and a beta of 1.08. Evertec has a fifty-two week low of $12.60 and a fifty-two week high of $22.05.

About Evertec

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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