$594.08 Million in Sales Expected for Euronet Worldwide, Inc. (EEFT) This Quarter
Equities analysts expect Euronet Worldwide, Inc. (NASDAQ:EEFT) to announce sales of $594.08 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Euronet Worldwide’s earnings, with the lowest sales estimate coming in at $581.00 million and the highest estimate coming in at $612.00 million. Euronet Worldwide reported sales of $524.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The business is scheduled to announce its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Euronet Worldwide will report full-year sales of $594.08 million for the current year, with estimates ranging from $2.17 billion to $2.24 billion. For the next year, analysts expect that the business will report sales of $2.41 billion per share, with estimates ranging from $2.29 billion to $2.51 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Euronet Worldwide.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $536.60 million for the quarter, compared to the consensus estimate of $513.10 million. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share.
EEFT has been the topic of several analyst reports. Lake Street Capital initiated coverage on Euronet Worldwide in a research report on Monday, June 26th. They set a “buy” rating and a $96.00 price target on the stock. Zacks Investment Research cut Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. DA Davidson initiated coverage on Euronet Worldwide in a research report on Wednesday, July 19th. They set a “buy” rating and a $105.00 price target on the stock. BidaskClub upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $120.00 price target on shares of Euronet Worldwide in a research report on Friday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $105.40.
Shares of Euronet Worldwide (NASDAQ:EEFT) traded up 1.09% during midday trading on Thursday, reaching $97.38. 215,709 shares of the company’s stock were exchanged. Euronet Worldwide has a 12 month low of $70.51 and a 12 month high of $99.53. The firm has a 50 day moving average price of $96.53 and a 200 day moving average price of $90.02. The company has a market cap of $5.12 billion, a P/E ratio of 31.43 and a beta of 1.34.
In other news, Director Andrej Olechowski sold 10,276 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $97.30, for a total transaction of $999,854.80. Following the sale, the director now directly owns 14,355 shares in the company, valued at $1,396,741.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jeffrey B. Newman sold 3,433 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $92.00, for a total value of $315,836.00. Following the sale, the vice president now owns 16,386 shares in the company, valued at $1,507,512. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,574 shares of company stock worth $29,668,269. Company insiders own 7.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EEFT. BB&T Securities LLC grew its holdings in shares of Euronet Worldwide by 3.8% during the second quarter. BB&T Securities LLC now owns 10,162 shares of the business services provider’s stock worth $887,000 after purchasing an additional 370 shares in the last quarter. Credit Agricole S A grew its holdings in shares of Euronet Worldwide by 20.0% during the first quarter. Credit Agricole S A now owns 86,400 shares of the business services provider’s stock worth $7,389,000 after purchasing an additional 14,400 shares in the last quarter. Timpani Capital Management LLC purchased a new position in shares of Euronet Worldwide during the second quarter worth about $1,652,000. Renaissance Group LLC grew its holdings in shares of Euronet Worldwide by 0.9% during the second quarter. Renaissance Group LLC now owns 3,864 shares of the business services provider’s stock worth $338,000 after purchasing an additional 36 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Euronet Worldwide by 100.6% during the second quarter. Russell Investments Group Ltd. now owns 23,146 shares of the business services provider’s stock worth $2,023,000 after purchasing an additional 11,606 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.
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About Euronet Worldwide
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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