Euronet Worldwide Inc. (EEFT) Earns Buy Rating from Analysts at SunTrust Banks Inc.
Research analysts at SunTrust Banks Inc. began coverage on shares of Euronet Worldwide Inc. (NASDAQ:EEFT) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $98.00 price target on the stock. SunTrust Banks Inc.’s target price would suggest a potential upside of 17.14% from the stock’s previous close.
Separately, Zacks Investment Research downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.86.
Euronet Worldwide (NASDAQ:EEFT) opened at 83.66 on Wednesday. The firm’s 50-day moving average price is $79.94 and its 200 day moving average price is $76.62. Euronet Worldwide has a 12-month low of $52.00 and a 12-month high of $84.43. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 30.40 and a beta of 1.49.
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Euronet Worldwide (NASDAQ:EEFT) last announced its earnings results on Tuesday, July 26th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Euronet Worldwide had a net margin of 8.01% and a return on equity of 22.65%. The business earned $476.90 million during the quarter, compared to the consensus estimate of $470.99 million. During the same quarter last year, the firm earned $0.78 earnings per share. Euronet Worldwide’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts expect that Euronet Worldwide will post $4.07 EPS for the current fiscal year.
In other news, VP Jeffrey B. Newman sold 5,772 shares of Euronet Worldwide stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $77.80, for a total transaction of $449,061.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin J. Caponecchi sold 58,573 shares of Euronet Worldwide stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $75.52, for a total transaction of $4,423,432.96. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EEFT. Foundry Partners LLC acquired a new position in shares of Euronet Worldwide during the third quarter worth about $238,000. BNP Paribas Arbitrage SA boosted its position in shares of Euronet Worldwide by 9.0% in the third quarter. BNP Paribas Arbitrage SA now owns 14,080 shares of the company’s stock worth $1,152,000 after buying an additional 1,158 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in shares of Euronet Worldwide by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 139,891 shares of the company’s stock worth $9,679,000 after buying an additional 4,972 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Euronet Worldwide by 11.7% in the second quarter. Public Employees Retirement System of Ohio now owns 191,432 shares of the company’s stock worth $13,245,000 after buying an additional 20,000 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Euronet Worldwide by 5.2% in the second quarter. Stifel Financial Corp now owns 104,869 shares of the company’s stock worth $7,257,000 after buying an additional 5,181 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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