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%.
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.
Featured Story: The Role of a Fiduciary and Individual Investors
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.