Qiwi Plc (QIWI) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Qiwi Plc (NASDAQ:QIWI) from a strong sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

Several other brokerages have also recently weighed in on QIWI. VTB Capital cut shares of Qiwi Plc from a buy rating to a hold rating and set a $27.00 price target for the company. in a research report on Monday, June 19th. BidaskClub raised shares of Qiwi Plc from a buy rating to a strong-buy rating in a research report on Thursday, June 15th. ValuEngine raised shares of Qiwi Plc from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. cut shares of Qiwi Plc from a buy rating to a neutral rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Qiwi Plc has an average rating of Hold and a consensus target price of $23.25.

Shares of Qiwi Plc (NASDAQ QIWI) opened at 17.53 on Tuesday. Qiwi Plc has a 52-week low of $11.60 and a 52-week high of $26.55.

Qiwi Plc (NASDAQ:QIWI) last announced its quarterly earnings data 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 14.88% and a return on equity of 22.31%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $20.41 EPS. On average, equities analysts expect that Qiwi Plc will post $1.19 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.79%. This is a boost from Qiwi Plc’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 25th. Qiwi Plc’s dividend payout ratio (DPR) is currently 101.33%.

Several large investors have recently bought and sold shares of QIWI. Citigroup Inc. boosted its stake in Qiwi Plc by 2.1% in the second quarter. Citigroup Inc. now owns 48,732 shares of the credit services provider’s stock valued at $1,203,000 after buying an additional 990 shares in the last quarter. Northern Trust Corp boosted its stake in Qiwi Plc by 19.4% in the second quarter. Northern Trust Corp now owns 20,283 shares of the credit services provider’s stock valued at $501,000 after buying an additional 3,296 shares in the last quarter. California Public Employees Retirement System boosted its stake in 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 in the last quarter. State Street Corp boosted its stake in Qiwi Plc by 8.7% in the second quarter. State Street Corp now owns 47,658 shares of the credit services provider’s stock valued at $1,177,000 after buying an additional 3,808 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Qiwi Plc by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 329,079 shares of the credit services provider’s stock valued at $8,122,000 after buying an additional 3,823 shares in the last quarter. 16.76% of the stock is owned by hedge funds and other institutional investors.

Qiwi Plc Company Profile

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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