Cardtronics (CATM) Trading 22.3% Higher Following Strong Earnings

Cardtronics PLC (NASDAQ:CATM)’s share price traded up 22.3% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $34.67 and last traded at $33.96. 2,173,524 shares were traded during trading, an increase of 257% from the average session volume of 608,725 shares. The stock had previously closed at $27.76.

The business services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.20. Cardtronics had a positive return on equity of 24.21% and a negative net margin of 11.00%. The firm had revenue of $340.18 million for the quarter, compared to analysts’ expectations of $319.30 million. During the same period last year, the firm earned $0.96 EPS. The company’s quarterly revenue was down 15.4% on a year-over-year basis.

A number of equities research analysts have recently commented on the company. BidaskClub upgraded Cardtronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. TheStreet upgraded Cardtronics from a “d+” rating to a “c-” rating in a research report on Monday, August 27th. ValuEngine upgraded Cardtronics from a “hold” rating to a “buy” rating in a research report on Friday. Barrington Research upgraded Cardtronics to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday. Finally, Zacks Investment Research upgraded Cardtronics from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.40.

In related news, Director Hudson Executive Capital Lp purchased 25,200 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were purchased at an average cost of $29.97 per share, with a total value of $755,244.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark Rossi purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average cost of $30.25 per share, for a total transaction of $151,250.00. The disclosure for this purchase can be found here. Company insiders own 0.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of CATM. Legal & General Group Plc lifted its stake in Cardtronics by 2.4% in the 1st quarter. Legal & General Group Plc now owns 95,717 shares of the business services provider’s stock valued at $2,144,000 after buying an additional 2,220 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cardtronics by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 351,794 shares of the business services provider’s stock worth $7,849,000 after purchasing an additional 9,962 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Cardtronics in the 2nd quarter worth approximately $1,627,000. Alps Advisors Inc. purchased a new position in Cardtronics in the 2nd quarter worth approximately $209,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Cardtronics in the 2nd quarter worth approximately $227,000.

The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.76 and a beta of 1.26.

Cardtronics Company Profile (NASDAQ:CATM)

Cardtronics plc provides automated consumer financial services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. The company offers cash dispensing and bank balance inquiries; and financial related services to cardholders, as well as ATM management and ATM equipment-related services to large retail merchants, smaller retailers, and operators of facilities, such as shopping malls, airports, and train stations.

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