Bank of America Reiterates Buy Rating for Moneygram International (MGI)
Moneygram International (NYSE:MGI)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America in a report issued on Monday, Analyst Ratings Network.com reports. They currently have a $19.00 target price on the stock. Bank of America’s price target indicates a potential upside of 37.98% from the stock’s previous close.
MGI has been the subject of a number of other recent research reports. Analysts at JMP Securities downgraded shares of Moneygram International from an “outperform” rating to a “market perform” rating in a research note on Monday. They now have a $25.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Moneygram International from a “neutral” rating to an “underperform” rating in a research note on Thursday, April 17th. They now have a $16.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Moneygram International in a research note on Thursday, February 13th. They now have a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.00.
Shares of Moneygram International (NYSE:MGI) traded up 7.58% on Monday, hitting $13.77. The stock had a trading volume of 1,485,147 shares. Moneygram International has a 1-year low of $12.45 and a 1-year high of $24.88. The stock’s 50-day moving average is $17.96 and its 200-day moving average is $19.33. The company has a market cap of $798.2 million and a P/E ratio of 17.53.
Moneygram International (NYSE:MGI) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $385.80 million for the quarter, compared to the consensus estimate of $389.34 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Moneygram International will post $1.41 EPS for the current fiscal year.
MoneyGram International, Inc (NYSE:MGI) is a global payment services company.
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