Zacks Investment Research upgraded shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) from a hold rating to a buy rating in a report issued on Monday, July 17th. They currently have $102.00 price target on the business services provider’s stock.
According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “
Separately, Lake Street Capital started coverage on shares of Euronet Worldwide in a report on Monday, June 26th. They set a buy rating and a $96.00 price objective for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $100.20.
Shares of Euronet Worldwide (NASDAQ EEFT) traded up 0.31% during trading on Monday, hitting $95.57. 291,152 shares of the company traded hands. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 30.85 and a beta of 1.34. Euronet Worldwide has a 52 week low of $70.51 and a 52 week high of $97.77. The company has a 50 day moving average price of $91.69 and a 200 day moving average price of $85.21.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. The company had revenue of $536.60 million during the quarter, compared to analyst estimates of $513.10 million. During the same quarter last year, the business posted $0.97 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts expect that Euronet Worldwide will post $4.55 earnings per share for the current year.
In other Euronet Worldwide news, CEO Michael J. Brown sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $96.49, for a total transaction of $5,789,400.00. Following the transaction, the chief executive officer now owns 1,605,886 shares of the company’s stock, valued at approximately $154,951,940.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikos Fountas sold 20,789 shares of Euronet Worldwide stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $96.72, for a total transaction of $2,010,712.08. The disclosure for this sale can be found here. Insiders have sold a total of 126,883 shares of company stock worth $11,968,683 in the last three months. Insiders own 7.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Hood River Capital Management LLC increased its position in shares of Euronet Worldwide by 72.2% in the second quarter. Hood River Capital Management LLC now owns 200,862 shares of the business services provider’s stock worth $17,549,000 after buying an additional 84,230 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Euronet Worldwide by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 64,547 shares of the business services provider’s stock worth $5,639,000 after buying an additional 2,361 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Euronet Worldwide by 2.2% in the second quarter. California Public Employees Retirement System now owns 89,800 shares of the business services provider’s stock worth $7,846,000 after buying an additional 1,900 shares during the last quarter. FMR LLC increased its position in shares of Euronet Worldwide by 4.1% in the second quarter. FMR LLC now owns 3,536,948 shares of the business services provider’s stock worth $309,023,000 after buying an additional 138,659 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Euronet Worldwide by 1.8% in the second quarter. Vanguard Group Inc. now owns 3,958,608 shares of the business services provider’s stock worth $345,863,000 after buying an additional 69,689 shares during the last quarter. 94.42% of the stock is currently owned by hedge funds and other institutional investors.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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