Equities research analysts expect Moneygram International Inc (NASDAQ:MGI) to announce sales of $364.20 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Moneygram International’s earnings. The lowest sales estimate is $336.50 million and the highest is $402.00 million. Moneygram International posted sales of $408.20 million in the same quarter last year, which suggests a negative year-over-year growth rate of 10.8%. The company is expected to issue its next earnings report on Friday, March 15th.
On average, analysts expect that Moneygram International will report full-year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.44 billion to $1.46 billion. For the next year, analysts anticipate that the firm will report sales of $1.50 billion, with estimates ranging from $1.37 billion to $1.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Moneygram International.
Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Thursday, November 8th. The financial services provider reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The firm had revenue of $347.20 million for the quarter, compared to analysts’ expectations of $378.73 million. Moneygram International had a negative net margin of 4.24% and a negative return on equity of 10.35%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year.
MGI has been the topic of a number of research reports. BidaskClub upgraded shares of Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Barclays initiated coverage on shares of Moneygram International in a research report on Wednesday, November 14th. They set an “underweight” rating and a $2.00 target price on the stock. Zacks Investment Research upgraded shares of Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Friday, August 10th. Finally, Evercore ISI lowered shares of Moneygram International from an “in-line” rating to an “underperform” rating in a research report on Friday, November 9th. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock has an average rating of “Sell” and a consensus price target of $5.08.
Several hedge funds have recently made changes to their positions in the company. NJ State Employees Deferred Compensation Plan lifted its position in shares of Moneygram International by 11.1% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 100,000 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 10,000 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Moneygram International by 2.2% during the third quarter. Gabelli Funds LLC now owns 552,974 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 11,828 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Moneygram International by 9.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 151,644 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 13,041 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Moneygram International by 5.3% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 291,925 shares of the financial services provider’s stock worth $1,562,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Moneygram International by 5.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,875 shares of the financial services provider’s stock worth $1,872,000 after purchasing an additional 15,075 shares in the last quarter. Institutional investors own 84.07% of the company’s stock.
Moneygram International stock traded down $0.03 during trading hours on Friday, hitting $2.05. 631,200 shares of the stock were exchanged, compared to its average volume of 613,342. The stock has a market capitalization of $115.68 million, a price-to-earnings ratio of 2.33 and a beta of 1.92. Moneygram International has a 12 month low of $2.00 and a 12 month high of $14.00.
About Moneygram International
MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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