Blackhawk Network Holdings Inc. (HAWK) Updates FY16 Earnings Guidance
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.52-2.71 for the period, compared to the Thomson Reuters consensus estimate of $2.57. The company issued revenue guidance of $1.95-2.014 billion, compared to the consensus revenue estimate of $1.99 billion.
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) traded down 0.84% during mid-day trading on Tuesday, reaching $31.93. 1,635,070 shares of the company traded hands. Blackhawk Network Holdings Inc. has a 12-month low of $28.88 and a 12-month high of $48.40. The firm has a market capitalization of $1.80 billion, a P/E ratio of 79.03 and a beta of 0.67. The company’s 50 day moving average price is $31.80 and its 200 day moving average price is $33.16.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.04. Blackhawk Network Holdings had a return on equity of 15.40% and a net margin of 1.24%. The business earned $361.60 million during the quarter, compared to the consensus estimate of $189.25 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts predict that Blackhawk Network Holdings Inc. will post $1.57 EPS for the current year.
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A number of research analysts have recently commented on HAWK shares. Jefferies Group reiterated a buy rating and set a $43.00 target price on shares of Blackhawk Network Holdings in a research report on Monday. Bank of America Corp. upgraded Blackhawk Network Holdings from a neutral rating to a buy rating and set a $41.00 target price for the company in a research report on Friday, July 22nd. Zacks Investment Research upgraded Blackhawk Network Holdings from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Tuesday, September 20th. Finally, Credit Agricole SA upgraded Blackhawk Network Holdings from an underperform rating to an outperform rating and increased their target price for the company from $34.00 to $36.00 in a research report on Wednesday, September 21st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $42.75.
In other Blackhawk Network Holdings news, Director Arun Sarin sold 25,000 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total value of $898,000.00. Following the sale, the director now owns 40,529 shares in the company, valued at $1,455,801.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.24% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new stake in Blackhawk Network Holdings during the second quarter worth $21,668,000. Thrivent Financial for Lutherans purchased a new position in shares of Blackhawk Network Holdings during the second quarter valued at approximately $9,498,000. Pivot Point Capital Partners LLC raised its position in shares of Blackhawk Network Holdings by 19.2% in the second quarter. Pivot Point Capital Partners LLC now owns 966,280 shares of the company’s stock valued at $32,361,000 after buying an additional 155,324 shares in the last quarter. Elk Creek Partners LLC raised its position in shares of Blackhawk Network Holdings by 9.1% in the second quarter. Elk Creek Partners LLC now owns 682,107 shares of the company’s stock valued at $22,844,000 after buying an additional 56,933 shares in the last quarter. Finally, FMR LLC raised its position in shares of Blackhawk Network Holdings by 0.6% in the second quarter. FMR LLC now owns 8,420,818 shares of the company’s stock valued at $282,013,000 after buying an additional 50,700 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.
Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.
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