$117.22 Million in Sales Expected for Evertec Inc (NYSE:EVTC) This Quarter
Equities research analysts forecast that Evertec Inc (NYSE:EVTC) will post sales of $117.22 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Evertec’s earnings, with the lowest sales estimate coming in at $115.84 million and the highest estimate coming in at $119.41 million. Evertec reported sales of $112.02 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The business is scheduled to issue its next earnings report on Tuesday, October 29th.
On average, analysts expect that Evertec will report full year sales of $480.71 million for the current year, with estimates ranging from $480.00 million to $481.28 million. For the next financial year, analysts anticipate that the firm will post sales of $506.47 million, with estimates ranging from $500.00 million to $510.95 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Evertec.
Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.07. Evertec had a net margin of 20.55% and a return on equity of 60.49%. The firm had revenue of $122.55 million during the quarter, compared to analysts’ expectations of $117.13 million. During the same quarter last year, the company posted $0.46 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year.
Shares of NYSE EVTC traded down $0.38 during trading on Thursday, hitting $35.39. The company had a trading volume of 159,612 shares, compared to its average volume of 445,218. The stock has a fifty day simple moving average of $33.67 and a two-hundred day simple moving average of $30.24. Evertec has a fifty-two week low of $22.41 and a fifty-two week high of $37.38. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 20.82 and a beta of 0.80. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.38.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 5th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 2nd. Evertec’s payout ratio is currently 11.76%.
In other Evertec news, General Counsel Luis A. Rodriguez-Gonzalez sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.60, for a total transaction of $371,800.00. Following the completion of the transaction, the general counsel now owns 73,526 shares in the company, valued at approximately $2,102,843.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. US Bancorp DE boosted its stake in Evertec by 2,259.6% during the 2nd quarter. US Bancorp DE now owns 1,345 shares of the business services provider’s stock worth $44,000 after purchasing an additional 1,288 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Evertec during the 1st quarter worth $83,000. Point72 Asset Management L.P. purchased a new position in Evertec during the 2nd quarter worth $92,000. Quantamental Technologies LLC raised its position in Evertec by 250.0% during the 1st quarter. Quantamental Technologies LLC now owns 5,600 shares of the business services provider’s stock worth $156,000 after buying an additional 4,000 shares during the last quarter. Finally, USA Financial Portformulas Corp raised its position in Evertec by 8.1% during the 2nd quarter. USA Financial Portformulas Corp now owns 6,696 shares of the business services provider’s stock worth $186,000 after buying an additional 501 shares during the last quarter. Institutional investors and hedge funds own 78.42% of the company’s stock.
EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.
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