Zacks: Analysts Anticipate CardConnect Corp (CCN) to Announce $0.09 Earnings Per Share

Equities research analysts expect CardConnect Corp (NASDAQ:CCN) to report earnings of $0.09 per share for the current quarter, Zacks reports. Two analysts have made estimates for CardConnect Corp’s earnings. The company is scheduled to announce its next earnings results on Wednesday, August 9th.

On average, analysts expect that CardConnect Corp will report full year earnings of $0.40 per share for the current year, with EPS estimates ranging from $0.33 to $0.47. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for CardConnect Corp.

CardConnect Corp (NASDAQ:CCN) last released its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The business had revenue of $156.65 million for the quarter, compared to analyst estimates of $41.10 million.

A number of equities research analysts have recently weighed in on CCN shares. Zacks Investment Research lowered shares of CardConnect Corp from a “hold” rating to a “sell” rating in a report on Monday, April 17th. Piper Jaffray Companies raised their price objective on shares of CardConnect Corp from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, March 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $17.00 price objective on shares of CardConnect Corp in a report on Monday, March 13th. Finally, Craig Hallum started coverage on shares of CardConnect Corp in a report on Monday, February 13th. They issued a “buy” rating on the stock. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $15.80.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Laurion Capital Management LP bought a new position in CardConnect Corp during the first quarter worth approximately $220,000. Spark Investment Management LLC bought a new position in CardConnect Corp during the first quarter worth approximately $227,000. Morgan Stanley bought a new position in CardConnect Corp during the first quarter worth approximately $495,000. UBS Group AG bought a new position in CardConnect Corp during the first quarter worth approximately $616,000. Finally, Renaissance Technologies LLC bought a new position in CardConnect Corp during the fourth quarter worth approximately $631,000. 27.97% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of CardConnect Corp (NASDAQ:CCN) remained flat at $13.95 during midday trading on Tuesday. 29,908 shares of the company’s stock traded hands. The stock’s market capitalization is $435.07 million. CardConnect Corp has a 52 week low of $8.14 and a 52 week high of $14.65. The firm has a 50 day moving average price of $13.79 and a 200 day moving average price of $12.77.

About CardConnect Corp

CardConnect Corp., formerly FinTech Acquisition Corp., is a holding company. The Company holds interests in CardConnect, LLC. The Company is a provider of payment processing solutions to merchants throughout the United States. The Company’s segments include Merchant Acquiring Services and Other. The Company’s platform allows it to provide payment solutions, customer support and tools for its distribution partners and merchants.

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