Zacks Investment Research upgraded shares of Euronet Worldwide Inc. (NASDAQ:EEFT) from a hold rating to a buy rating in a research report released on Wednesday. The firm currently has $94.00 price objective on the 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, SunTrust Banks Inc. assumed coverage on Euronet Worldwide in a report on Wednesday, October 12th. They issued a buy rating and a $98.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Euronet Worldwide currently has an average rating of Buy and an average price target of $88.14.
Shares of Euronet Worldwide (NASDAQ:EEFT) opened at 83.13 on Wednesday. The company’s 50 day moving average price is $80.44 and its 200 day moving average price is $76.80. The company has a market capitalization of $4.33 billion, a P/E ratio of 30.21 and a beta of 1.49. Euronet Worldwide has a 12 month low of $52.00 and a 12 month high of $84.81.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.07. The company earned $476.90 million during the quarter, compared to analysts’ expectations of $470.99 million. Euronet Worldwide had a return on equity of 22.65% and a net margin of 8.01%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Analysts expect that Euronet Worldwide will post $4.07 EPS for the current fiscal year.
In related news, CEO Kevin J. Caponecchi sold 58,573 shares of Euronet Worldwide stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $75.52, for a total value of $4,423,432.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey B. Newman sold 5,772 shares of Euronet Worldwide stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $77.80, for a total value of $449,061.60. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EEFT. Ngam Advisors L.P. acquired a new position in shares of Euronet Worldwide during the first quarter valued at about $1,764,000. TIAA CREF Investment Management LLC increased its stake in Euronet Worldwide by 7.7% in the first quarter. TIAA CREF Investment Management LLC now owns 357,386 shares of the company’s stock valued at $26,486,000 after buying an additional 25,518 shares in the last quarter. Teachers Advisors Inc. increased its stake in Euronet Worldwide by 247.8% in the first quarter. Teachers Advisors Inc. now owns 261,758 shares of the company’s stock valued at $19,399,000 after buying an additional 186,489 shares in the last quarter. BlackRock Inc. increased its stake in Euronet Worldwide by 50.0% in the first quarter. BlackRock Inc. now owns 3,464 shares of the company’s stock valued at $257,000 after buying an additional 1,154 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Euronet Worldwide by 10.1% in the first quarter. BlackRock Group LTD now owns 162,920 shares of the company’s stock valued at $12,074,000 after buying an additional 14,980 shares in the last quarter. Institutional investors own 89.80% of the company’s stock.
About Euronet Worldwide
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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