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.
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.
Get a free copy of the Zacks research report on Evertec (EVTC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Evertec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evertec and related companies with MarketBeat.com's FREE daily email newsletter.