Analysts expect that Moneygram International Inc (NASDAQ:MGI) will report $342.31 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Moneygram International’s earnings. The lowest sales estimate is $333.80 million and the highest is $353.03 million. Moneygram International reported sales of $374.60 million during the same quarter last year, which indicates a negative year over year growth rate of 8.6%. The company is expected to issue its next quarterly earnings report on Friday, August 2nd.

On average, analysts expect that Moneygram International will report full-year sales of $1.37 billion for the current fiscal year, with estimates ranging from $1.36 billion to $1.38 billion. For the next year, analysts anticipate that the company will report sales of $1.40 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Moneygram International.

Moneygram International (NASDAQ:MGI) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $315.40 million for the quarter, compared to analyst estimates of $332.98 million. Moneygram International had a negative net margin of 3.22% and a negative return on equity of 4.67%. Moneygram International’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS.

A number of analysts recently issued reports on MGI shares. ValuEngine cut Moneygram International from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Northland Securities restated a “buy” rating and set a $5.50 target price on shares of Moneygram International in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.19.

MGI opened at $1.39 on Monday. The firm has a market cap of $82.33 million, a P/E ratio of 3.23 and a beta of 1.97. Moneygram International has a 1 year low of $1.33 and a 1 year high of $7.41.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGI. Beach Point Capital Management LP bought a new position in Moneygram International during the fourth quarter valued at about $3,669,000. AQR Capital Management LLC increased its stake in shares of Moneygram International by 35.0% in the first quarter. AQR Capital Management LLC now owns 1,541,138 shares of the financial services provider’s stock worth $3,144,000 after purchasing an additional 399,317 shares during the period. Acadian Asset Management LLC increased its stake in shares of Moneygram International by 98.3% in the fourth quarter. Acadian Asset Management LLC now owns 753,595 shares of the financial services provider’s stock worth $1,507,000 after purchasing an additional 373,619 shares during the period. Alambic Investment Management L.P. increased its stake in shares of Moneygram International by 575.4% in the fourth quarter. Alambic Investment Management L.P. now owns 406,392 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 346,217 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Moneygram International by 94.1% in the first quarter. Renaissance Technologies LLC now owns 473,500 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 229,500 shares during the period. Institutional investors own 78.47% of the company’s stock.

Moneygram International Company Profile

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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