Euronet Worldwide (NASDAQ:EEFT) Cut to Strong Sell at BidaskClub
EEFT has been the subject of a number of other reports. DA Davidson cut Euronet Worldwide from a buy rating to a neutral rating and set a $161.20 price objective for the company. in a report on Thursday, June 13th. They noted that the move was a valuation call. Citigroup upped their price objective on Euronet Worldwide from $168.00 to $189.00 and gave the stock a buy rating in a report on Monday, September 9th. ValuEngine cut Euronet Worldwide from a buy rating to a hold rating in a report on Friday, September 6th. Finally, Wolfe Research initiated coverage on Euronet Worldwide in a report on Wednesday, July 31st. They issued an outperform rating and a $200.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $168.03.
Euronet Worldwide stock opened at $145.85 on Tuesday. Euronet Worldwide has a 52 week low of $91.78 and a 52 week high of $171.25. The business has a 50-day simple moving average of $150.64 and a 200 day simple moving average of $152.16. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.96. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.64 and a beta of 1.16.
In other news, CEO Juan Bianchi sold 20,994 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $152.51, for a total value of $3,201,794.94. Following the completion of the transaction, the chief executive officer now directly owns 20,994 shares in the company, valued at approximately $3,201,794.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of EEFT. First Republic Investment Management Inc. purchased a new stake in Euronet Worldwide during the 1st quarter valued at about $223,000. Cetera Advisor Networks LLC purchased a new stake in Euronet Worldwide during the 1st quarter valued at about $221,000. CIBC Asset Management Inc purchased a new stake in Euronet Worldwide during the 1st quarter valued at about $257,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Euronet Worldwide during the 1st quarter valued at about $1,235,000. Finally, New York State Common Retirement Fund boosted its holdings in Euronet Worldwide by 1.9% during the 1st quarter. New York State Common Retirement Fund now owns 100,920 shares of the business services provider’s stock valued at $14,390,000 after acquiring an additional 1,860 shares during the period. Hedge funds and other institutional investors own 92.00% of the company’s stock.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.
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