Evertec Inc. (NYSE:EVTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $19.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 15.43% from the stock’s current price.
According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “
EVTC has been the topic of several other research reports. Compass Point lifted their price target on shares of Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Deutsche Bank AG lifted their price target on shares of Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Evertec has a consensus rating of “Hold” and a consensus price target of $17.40.
Shares of Evertec (NYSE:EVTC) opened at 16.46 on Wednesday. Evertec has a 52 week low of $11.27 and a 52 week high of $19.66. The firm’s 50-day moving average price is $16.90 and its 200 day moving average price is $15.40. The company has a market capitalization of $1.23 billion, a PE ratio of 14.38 and a beta of 1.12.
Evertec (NYSE:EVTC) last released its earnings results on Thursday, July 28th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. Evertec had a net margin of 19.59% and a return on equity of 118.58%. The business had revenue of $97.70 million for the quarter, compared to analyst estimates of $93.40 million. During the same period last year, the company posted $0.44 EPS. The business’s revenue was up 4.6% on a year-over-year basis. Equities analysts predict that Evertec will post $1.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Tuesday, August 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.40 annualized dividend and a yield of 2.43%. Evertec’s dividend payout ratio (DPR) is presently 40.40%.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Evertec by 66.0% in the second quarter. BlackRock Inc. now owns 7,528 shares of the company’s stock valued at $117,000 after buying an additional 2,994 shares during the period. Teacher Retirement System of Texas increased its stake in Evertec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,042 shares of the company’s stock valued at $141,000 after buying an additional 1,099 shares during the period. Acrospire Investment Management LLC increased its stake in Evertec by 84.0% in the second quarter. Acrospire Investment Management LLC now owns 9,200 shares of the company’s stock valued at $143,000 after buying an additional 4,200 shares during the period. Pacad Investment Ltd. bought a new stake in Evertec during the first quarter valued at $157,000. Finally, AHL Partners LLP bought a new stake in Evertec during the second quarter valued at $160,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Evertec Company Profile
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
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