William Blair Equities Analysts Increase Earnings Estimates for Evertec Inc (EVTC)

Evertec Inc (NYSE:EVTC) – Equities research analysts at William Blair lifted their Q4 2018 earnings per share (EPS) estimates for Evertec in a research note issued on Tuesday, October 30th. William Blair analyst R. Napoli now anticipates that the business services provider will post earnings of $0.38 per share for the quarter, up from their prior estimate of $0.37.

Several other research analysts have also issued reports on the stock. Deutsche Bank raised their price target on shares of Evertec from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Thursday, July 26th. Raymond James upgraded shares of Evertec from a “market perform” rating to an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Evertec from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Evertec presently has a consensus rating of “Buy” and a consensus price target of $21.67.

Evertec stock opened at $28.52 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.73 and a quick ratio of 1.63. Evertec has a 52-week low of $12.60 and a 52-week high of $28.55. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 18.40 and a beta of 0.99.

Evertec (NYSE:EVTC) last released its quarterly earnings results on Tuesday, October 30th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. Evertec had a net margin of 16.52% and a return on equity of 62.09%. The firm had revenue of $112.02 million during the quarter, compared to analyst estimates of $108.94 million. During the same quarter last year, the business earned $0.33 EPS. The company’s revenue was up 9.0% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Evertec in the 2nd quarter valued at $2,762,000. Amalgamated Bank bought a new stake in shares of Evertec in the 2nd quarter valued at $213,000. Sei Investments Co. increased its stake in shares of Evertec by 7.5% in the 2nd quarter. Sei Investments Co. now owns 101,496 shares of the business services provider’s stock valued at $2,218,000 after acquiring an additional 7,066 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Evertec in the 2nd quarter valued at $624,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Evertec by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 758,185 shares of the business services provider’s stock valued at $16,567,000 after acquiring an additional 21,923 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

In other news, EVP Miguel Vizcarrondo sold 30,000 shares of Evertec stock in a transaction on Friday, September 7th. The shares were sold at an average price of $23.76, for a total value of $712,800.00. Following the completion of the sale, the executive vice president now owns 215,887 shares in the company, valued at approximately $5,129,475.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of Evertec stock in a transaction on Monday, September 10th. The shares were sold at an average price of $23.55, for a total transaction of $35,325.00. Following the completion of the sale, the insider now owns 24,915 shares of the company’s stock, valued at approximately $586,748.25. The disclosure for this sale can be found here. Insiders sold a total of 73,500 shares of company stock valued at $1,759,985 in the last quarter. 0.76% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Monday, November 5th will be paid a $0.05 dividend. The ex-dividend date is Friday, November 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. Evertec’s dividend payout ratio is currently 13.61%.

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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