Deluxe Corp. (DLX) Downgraded by Zacks Investment Research
Deluxe Corp. (NYSE:DLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Deluxe Corporation, through its industry-leading businesses and brands, helps financial institutions and small businesses better manage, promote, and grow their businesses. The Company uses direct marketing, distributors, and a North American sales force to provide a wide range of customized products and services: personalized printed items checks, forms, business cards, stationery, greeting cards, labels, and retail/packaging supplies, promotional products and merchandising materials, fraud prevention services, and customer retention programs. The Company also sells personalized checks and accessories directly to consumers. “
Shares of Deluxe Corp. (NYSE:DLX) traded down 0.07% during mid-day trading on Tuesday, hitting $66.88. 430,886 shares of the stock were exchanged. Deluxe Corp. has a 12-month low of $49.46 and a 12-month high of $70.26. The stock has a market capitalization of $3.26 billion, a P/E ratio of 14.24 and a beta of 1.47. The stock’s 50 day moving average price is $67.98 and its 200-day moving average price is $64.91.
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Deluxe Corp. (NYSE:DLX) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.02. Deluxe Corp. had a return on equity of 31.19% and a net margin of 12.86%. The company earned $450.60 million during the quarter, compared to the consensus estimate of $450.56 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that Deluxe Corp. will post $4.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, August 18th. Deluxe Corp.’s dividend payout ratio is presently 25.59%.
In other Deluxe Corp. news, Director Neil Metviner sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $69.23, for a total transaction of $553,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in Deluxe Corp. by 1,943.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,309 shares of the company’s stock worth $153,000 after buying an additional 2,196 shares in the last quarter. LS Investment Advisors LLC increased its stake in Deluxe Corp. by 74.1% in the second quarter. LS Investment Advisors LLC now owns 3,018 shares of the company’s stock worth $200,000 after buying an additional 1,285 shares in the last quarter. BB&T Securities LLC purchased a new stake in Deluxe Corp. during the second quarter worth $201,000. Huntington National Bank increased its stake in Deluxe Corp. by 57.2% in the second quarter. Huntington National Bank now owns 3,076 shares of the company’s stock worth $204,000 after buying an additional 1,119 shares in the last quarter. Finally, Aull & Monroe Investment Management Corp purchased a new stake in Deluxe Corp. during the second quarter worth $204,000. 90.57% of the stock is owned by institutional investors and hedge funds.
Deluxe Corp. Company Profile
Deluxe Corporation provides payment solutions. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. Its Small Business Services segment offers services for marketing needs of small businesses, including Web design, hosting and other Web services; search engine optimization; marketing services, including e-mail, mobile, social media and other self-service marketing solutions; digital printing services, and logo design.
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