Citigroup Inc. lowered shares of QIWI PLC (NASDAQ:QIWI) from a buy rating to a neutral rating in a research report report published on Wednesday, MarketBeat Ratings reports.

A number of other research analysts also recently commented on the company. BidaskClub downgraded QIWI PLC from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. ValuEngine raised QIWI PLC from a hold rating to a buy rating in a research note on Friday, June 2nd. Zacks Investment Research raised QIWI PLC from a hold rating to a buy rating and set a $19.00 price target for the company in a research note on Tuesday, March 28th. TheStreet raised QIWI PLC from a d+ rating to a c- rating in a research note on Wednesday, April 12th. Finally, VTB Capital downgraded QIWI PLC from a buy rating to a hold rating and set a $27.00 price target for the company. in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $23.25.

Shares of QIWI PLC (QIWI) opened at 17.87 on Wednesday. QIWI PLC has a 12 month low of $11.26 and a 12 month high of $26.55.

QIWI PLC (NASDAQ:QIWI) last announced its earnings results on Wednesday, May 17th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. QIWI PLC had a net margin of 14.27% and a return on equity of 23.38%. QIWI PLC’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $20.41 earnings per share. On average, equities analysts anticipate that QIWI PLC will post $1.19 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of QIWI. Acadian Asset Management LLC acquired a new position in shares of QIWI PLC during the second quarter valued at approximately $9,939,000. Parametric Portfolio Associates LLC increased its position in shares of QIWI PLC by 30.5% in the first quarter. Parametric Portfolio Associates LLC now owns 325,256 shares of the credit services provider’s stock valued at $5,578,000 after buying an additional 75,983 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in shares of QIWI PLC during the first quarter valued at approximately $3,428,000. River & Mercantile Asset Management LLP increased its position in shares of QIWI PLC by 3.2% in the first quarter. River & Mercantile Asset Management LLP now owns 143,500 shares of the credit services provider’s stock valued at $2,462,000 after buying an additional 4,400 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of QIWI PLC by 5.2% in the first quarter. California Public Employees Retirement System now owns 76,900 shares of the credit services provider’s stock valued at $1,319,000 after buying an additional 3,800 shares during the last quarter. 14.80% of the stock is owned by hedge funds and other institutional investors.

About QIWI PLC

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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