MoneyGram International Downgraded to “Neutral” at Piper Jaffray (MGI)
MoneyGram International (NYSE:MGI) was downgraded by investment analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $20.00 target price on the stock, down from their previous target price of $23.00. Piper Jaffray’s price objective would indicate a potential upside of 5.88% from the company’s current price.
Shares of MoneyGram International (NYSE:MGI) traded down 4.26% during mid-day trading on Tuesday, hitting $18.89. 364,394 shares of the company’s stock traded hands. MoneyGram International has a one year low of $13.32 and a one year high of $24.88. The stock’s 50-day moving average is $20.52 and its 200-day moving average is $20.88. The company has a market cap of $1.095 billion and a P/E ratio of 29.01.
MoneyGram International (NYSE:MGI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.31 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.34 by $0.03. The company had revenue of $383.00 million for the quarter, compared to the consensus estimate of $371.34 million. During the same quarter last year, the company posted $0.28 earnings per share. MoneyGram International’s revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that MoneyGram International will post $1.28 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of MoneyGram International in a research note to investors on Friday, October 25th. They now have a $22.00 price target on the stock. Analysts at Compass Point raised their price target on shares of MoneyGram International from $23.00 to $25.00 in a research note to investors on Thursday, October 24th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.43.
MoneyGram International, Inc (NYSE:MGI) is a global payment services company.
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