EVERTEC (NYSE:EVTC) Updates FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.85-$2.94 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of EVERTEC from $32.00 to $33.00 and gave the stock an underweight rating in a research report on Tuesday, February 27th. StockNews.com lowered shares of EVERTEC from a buy rating to a hold rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $41.33.

EVERTEC Price Performance

Shares of EVERTEC stock traded up $0.61 during trading on Friday, hitting $36.35. 417,097 shares of the stock traded hands, compared to its average volume of 353,157. The stock has a market cap 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 company has a quick ratio of 1.88, a current ratio of 1.59 and a debt-to-equity ratio of 1.84. EVERTEC has a 52 week low of $31.56 and a 52 week high of $42.21. The firm’s fifty day moving average is $38.07 and its 200-day moving average is $38.20.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. Research analysts expect that EVERTEC will post 2.33 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently announced 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s payout ratio is presently 20.20%.

Insiders Place Their Bets

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

EVERTEC Company Profile

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.