Euronet Worldwide Inc. (EEFT) Raised to Buy at Zacks Investment Research
Euronet Worldwide Inc. (NASDAQ:EEFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $94.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 12.13% from the stock’s previous close.
According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “
Separately, SunTrust Banks Inc. started coverage on Euronet Worldwide in a research report on Wednesday. They set a “buy” rating and a $98.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.14.
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Shares of Euronet Worldwide (NASDAQ:EEFT) traded up 0.20% during mid-day trading on Wednesday, reaching $83.83. The company had a trading volume of 508,091 shares. Euronet Worldwide has a 1-year low of $52.00 and a 1-year high of $84.43. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 30.46 and a beta of 1.49. The firm has a 50-day moving average price of $79.94 and a 200-day moving average price of $76.62.
Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.07. Euronet Worldwide had a return on equity of 22.65% and a net margin of 8.01%. The business had revenue of $476.90 million for the quarter, compared to the consensus estimate of $470.99 million. During the same quarter in the previous year, the company posted $0.78 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. Equities analysts expect that Euronet Worldwide will post $4.07 earnings per share for the current year.
In other news, VP Jeffrey B. Newman sold 5,772 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $77.80, for a total value of $449,061.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kevin J. Caponecchi sold 58,573 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $75.52, for a total value of $4,423,432.96. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning raised its position in shares of Euronet Worldwide by 0.5% in the third quarter. Creative Planning now owns 21,198 shares of the company’s stock worth $1,735,000 after buying an additional 96 shares in the last quarter. Smithfield Trust Co. raised its position in shares of Euronet Worldwide by 14.6% in the second quarter. Smithfield Trust Co. now owns 2,053 shares of the company’s stock worth $142,000 after buying an additional 261 shares in the last quarter. Northwest Investment Counselors LLC raised its position in shares of Euronet Worldwide by 6.1% in the second quarter. Northwest Investment Counselors LLC now owns 5,128 shares of the company’s stock worth $355,000 after buying an additional 294 shares in the last quarter. Aviance Capital Management LLC raised its position in shares of Euronet Worldwide by 10.3% in the second quarter. Aviance Capital Management LLC now owns 4,395 shares of the company’s stock worth $304,000 after buying an additional 410 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in shares of Euronet Worldwide by 1.8% in the second quarter. I.G. Investment Management LTD. now owns 32,152 shares of the company’s stock worth $2,225,000 after buying an additional 584 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.
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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