EVERTEC (NYSE:EVTC) Releases FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.85-$2.94 for the period, compared to the consensus earnings per share estimate of $2.88. The company issued revenue guidance of $846-$854 million, compared to the consensus revenue estimate of $849.79 million. EVERTEC also updated its FY 2024 guidance to 2.850-2.940 EPS.

Wall Street Analysts Forecast Growth

EVTC has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on EVERTEC from $32.00 to $33.00 and gave the stock an underweight rating in a research note on Tuesday, February 27th. StockNews.com downgraded shares of EVERTEC from a buy rating to a hold rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $41.33.

EVERTEC Stock Performance

Shares of EVTC traded up $0.61 during midday trading on Friday, reaching $36.35. 417,097 shares of the stock were exchanged, compared to its average volume of 353,157. EVERTEC has a twelve month low of $31.56 and a twelve month high of $42.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.88. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 2.10 and a beta of 1.19. The business’s 50-day moving average price is $38.07 and its 200 day moving average price is $38.20.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The firm had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. On average, sell-side analysts expect that EVERTEC will post 2.33 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, April 29th will be given a $0.05 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.20 annualized dividend and a yield of 0.55%. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

Insider Buying and Selling

In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now owns 10,380 shares of the company’s stock, valued at $388,523.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the sale, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

About EVERTEC

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.