Equities research analysts expect that Moneygram International Inc (NASDAQ:MGI) will report sales of $364.20 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Moneygram International’s earnings. The highest sales estimate is $402.00 million and the lowest is $336.50 million. Moneygram International reported sales of $408.20 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.8%. The firm is scheduled 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 fiscal year, analysts anticipate that the business will report sales of $1.46 billion, with estimates ranging from $1.37 billion to $1.55 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Moneygram International.
Moneygram International (NASDAQ:MGI) last released its earnings results on Thursday, November 8th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.08. The firm had revenue of $347.20 million for the quarter, compared to analyst estimates of $378.73 million. Moneygram International had a negative return on equity of 10.35% and a negative net margin of 4.24%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year.
Several equities research analysts have recently commented on MGI shares. BidaskClub cut Moneygram International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 26th. Zacks Investment Research cut Moneygram International from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Evercore ISI cut Moneygram International from an “in-line” rating to an “underperform” rating in a research note on Friday, November 9th. ValuEngine raised Moneygram International from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Barclays initiated coverage on Moneygram International in a research note on Wednesday, November 14th. They set an “underweight” rating and a $2.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $5.08.
A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its holdings in shares of Moneygram International by 3,829.6% in the fourth quarter. Meeder Asset Management Inc. now owns 46,605 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 45,419 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Moneygram International during the third quarter worth about $187,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Moneygram International during the third quarter worth about $199,000. JPMorgan Chase & Co. raised its holdings in Moneygram International by 743.0% during the third quarter. JPMorgan Chase & Co. now owns 52,859 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 46,589 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Moneygram International by 1,420.8% during the third quarter. Panagora Asset Management Inc. now owns 63,160 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 59,007 shares in the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.
MGI traded down $0.06 during midday trading on Thursday, reaching $2.20. The company’s stock had a trading volume of 192,447 shares, compared to its average volume of 501,253. Moneygram International has a twelve month low of $1.59 and a twelve month high of $13.23. The firm has a market capitalization of $122.35 million, a P/E ratio of 2.50 and a beta of 1.70.
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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