Qiwi (QIWI) Downgraded by ValuEngine to Strong Sell

Qiwi (NASDAQ:QIWI) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

QIWI has been the topic of a number of other research reports. TheStreet raised Qiwi from a “c+” rating to a “b-” rating in a research note on Monday, August 6th. Zacks Investment Research raised Qiwi from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, August 15th. BidaskClub raised Qiwi from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, UBS Group dropped their price objective on Qiwi from $24.50 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.67.

Shares of QIWI traded down $0.64 during mid-day trading on Friday, reaching $13.08. 209,507 shares of the company’s stock traded hands, compared to its average volume of 256,875. The stock has a market cap of $569.81 million, a price-to-earnings ratio of 12.58 and a beta of 2.80. Qiwi has a 12 month low of $11.61 and a 12 month high of $20.05.

Qiwi (NASDAQ:QIWI) last released its earnings results on Thursday, August 16th. The credit services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.09 billion. Qiwi had a net margin of 12.66% and a return on equity of 15.13%. The company’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the company posted $17.70 EPS. As a group, sell-side analysts expect that Qiwi will post 0.8 EPS for the current year.

Large investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in Qiwi by 94.8% in the second quarter. First Trust Advisors LP now owns 28,261 shares of the credit services provider’s stock worth $445,000 after purchasing an additional 13,756 shares in the last quarter. Platinum Investment Management Ltd. grew its stake in Qiwi by 11.7% in the second quarter. Platinum Investment Management Ltd. now owns 2,556,346 shares of the credit services provider’s stock worth $40,262,000 after purchasing an additional 268,025 shares in the last quarter. River & Mercantile Asset Management LLP grew its stake in Qiwi by 5.6% in the second quarter. River & Mercantile Asset Management LLP now owns 319,228 shares of the credit services provider’s stock worth $5,023,000 after purchasing an additional 16,988 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Qiwi by 16.7% in the second quarter. Eqis Capital Management Inc. now owns 36,763 shares of the credit services provider’s stock worth $579,000 after purchasing an additional 5,260 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Qiwi in the second quarter worth approximately $158,000. 28.43% of the stock is currently owned by institutional investors.

About Qiwi

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

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