EVERTEC (NYSE:EVTC) Updates FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.85-$2.94 for the period, compared to the consensus earnings per share estimate of $2.88. The company issued revenue guidance of $846-$854 million, compared to the consensus revenue estimate of $849.79 million.

EVERTEC Stock Up 0.2 %

Shares of EVTC stock traded up $0.09 on Wednesday, reaching $37.62. 297,531 shares of the stock were exchanged, compared to its average volume of 316,180. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58. EVERTEC has a twelve month low of $31.56 and a twelve month high of $42.21. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.26 and a beta of 1.20. The business’s 50 day moving average price is $38.34 and its 200 day moving average price is $38.21.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. The firm had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. As a group, sell-side analysts expect that EVERTEC will post 2.33 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, April 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s dividend payout ratio is currently 16.53%.

Analyst Ratings Changes

A number of research firms recently issued reports on EVTC. Morgan Stanley raised their price target on EVERTEC from $32.00 to $33.00 and gave the stock an underweight rating in a report on Tuesday, February 27th. StockNews.com lowered EVERTEC from a buy rating to a hold rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $41.33.

Insider Buying and Selling

In related news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now directly owns 347,941 shares in the company, valued at approximately $12,939,925.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the transaction, the director now directly owns 10,380 shares in the company, valued at approximately $388,523.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the completion of the transaction, the chief executive officer now owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.