StockNews.com Upgrades Euronet Worldwide (NASDAQ:EEFT) to “Buy”

Euronet Worldwide (NASDAQ:EEFT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

EEFT has been the topic of several other reports. DA Davidson dropped their target price on Euronet Worldwide from $134.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, October 13th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Euronet Worldwide in a research report on Monday, October 23rd. Citigroup dropped their target price on Euronet Worldwide from $119.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th. Northland Securities decreased their price objective on Euronet Worldwide from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, September 29th. Finally, TheStreet cut Euronet Worldwide from a “b-” rating to a “c+” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Euronet Worldwide currently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Euronet Worldwide Stock Up 3.3 %

EEFT traded up $2.79 during trading on Monday, reaching $87.48. The stock had a trading volume of 756,386 shares, compared to its average volume of 391,847. The stock’s 50 day moving average is $79.73 and its two-hundred day moving average is $95.43. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 16.20 and a beta of 1.38. Euronet Worldwide has a one year low of $73.84 and a one year high of $121.55.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Thursday, October 19th. The business services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.20. Euronet Worldwide had a return on equity of 24.01% and a net margin of 7.79%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $943.59 million. During the same period last year, the company earned $2.51 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Euronet Worldwide will post 6.55 earnings per share for the current year.

Institutional Investors Weigh In On Euronet Worldwide

Several institutional investors have recently added to or reduced their stakes in EEFT. Level Four Advisory Services LLC raised its position in Euronet Worldwide by 8.3% during the second quarter. Level Four Advisory Services LLC now owns 4,408 shares of the business services provider’s stock valued at $517,000 after acquiring an additional 338 shares in the last quarter. Cambiar Investors LLC increased its position in shares of Euronet Worldwide by 8.7% in the second quarter. Cambiar Investors LLC now owns 103,765 shares of the business services provider’s stock valued at $12,179,000 after buying an additional 8,265 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Euronet Worldwide by 3.5% in the first quarter. Envestnet Asset Management Inc. now owns 93,076 shares of the business services provider’s stock valued at $10,415,000 after buying an additional 3,182 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of Euronet Worldwide by 2.6% in the first quarter. Natixis Advisors L.P. now owns 92,216 shares of the business services provider’s stock valued at $10,319,000 after buying an additional 2,300 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Euronet Worldwide by 15.6% in the second quarter. SG Americas Securities LLC now owns 15,560 shares of the business services provider’s stock valued at $1,826,000 after buying an additional 2,098 shares in the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer.The Electronic Fund Transfer 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.