Euronet Worldwide, Inc. (NASDAQ:EEFT) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) from a buy rating to a hold rating in a report released on Friday morning.
According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “
A number of other equities research analysts also recently weighed in on EEFT. Lake Street Capital started coverage on Euronet Worldwide in a report on Monday, June 26th. They issued a buy rating and a $96.00 price target for the company. DA Davidson started coverage on Euronet Worldwide in a report on Wednesday, July 19th. They issued a buy rating and a $105.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $100.20.
Shares of Euronet Worldwide (NASDAQ:EEFT) opened at 96.61 on Friday. The firm has a market capitalization of $5.33 billion, a P/E ratio of 31.17 and a beta of 1.33. Euronet Worldwide has a 12-month low of $70.51 and a 12-month high of $96.95. The stock has a 50 day moving average price of $89.36 and a 200 day moving average price of $83.93.
Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. Euronet Worldwide had a return on equity of 23.14% and a net margin of 8.23%. The business had revenue of $536.60 million during the quarter, compared to the consensus estimate of $513.10 million. During the same period in the previous year, the business earned $0.97 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts anticipate that Euronet Worldwide will post $4.55 earnings per share for the current fiscal year.
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In other news, VP Jeffrey B. Newman sold 3,433 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $92.00, for a total value of $315,836.00. Following the completion of the sale, the vice president now directly owns 16,386 shares in the company, valued at approximately $1,507,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey B. Newman sold 24,535 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $92.01, for a total value of $2,257,465.35. Following the completion of the sale, the vice president now owns 16,918 shares of the company’s stock, valued at $1,556,625.18. The disclosure for this sale can be found here. Insiders sold a total of 46,094 shares of company stock valued at $4,168,571 over the last quarter. Company insiders own 7.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp increased its position in shares of Euronet Worldwide by 20.5% in the first quarter. Stifel Financial Corp now owns 150,208 shares of the business services provider’s stock worth $12,837,000 after buying an additional 25,510 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Euronet Worldwide by 2.6% in the first quarter. Essex Investment Management Co. LLC now owns 5,392 shares of the business services provider’s stock worth $461,000 after buying an additional 137 shares during the last quarter. Profit Investment Management LLC increased its position in shares of Euronet Worldwide by 10.1% in the first quarter. Profit Investment Management LLC now owns 22,025 shares of the business services provider’s stock worth $1,884,000 after buying an additional 2,017 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Euronet Worldwide during the first quarter worth approximately $1,907,000. Finally, Capital Impact Advisors LLC increased its position in shares of Euronet Worldwide by 63.4% in the first quarter. Capital Impact Advisors LLC now owns 18,461 shares of the business services provider’s stock worth $1,579,000 after buying an additional 7,162 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.
Euronet Worldwide Company Profile
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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