Euronet Worldwide Inc. (EEFT) Upgraded by Zacks Investment Research to Buy
Euronet Worldwide Inc. (NASDAQ:EEFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $94.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.13% from the company’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. initiated coverage on Euronet Worldwide in a report on Wednesday. They issued a “buy” rating and a $98.00 price target for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Euronet Worldwide has a consensus rating of “Buy” and a consensus price target of $88.14.
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Shares of Euronet Worldwide (NASDAQ:EEFT) traded up 0.20% during midday trading on Wednesday, reaching $83.83. The company’s stock had a trading volume of 508,091 shares. The stock’s 50-day moving average is $79.94 and its 200-day moving average is $76.62. Euronet Worldwide has a one year low of $52.00 and a one year high of $84.43. The company has a market capitalization of $4.37 billion, a P/E ratio of 30.46 and a beta of 1.49.
Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.97 EPS for the quarter, beating the 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 firm earned $476.90 million during the quarter, compared to analysts’ expectations of $470.99 million. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts expect that Euronet Worldwide will post $4.07 earnings per share for the current fiscal year.
In other news, CEO Kevin J. Caponecchi sold 58,573 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $75.52, for a total value of $4,423,432.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jeffrey B. Newman sold 5,772 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $77.80, for a total value of $449,061.60. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in EEFT. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Euronet Worldwide during the second quarter valued at about $100,000. Checchi Capital Advisers LLC boosted its stake in shares of Euronet Worldwide by 1,179.0% in the second quarter. Checchi Capital Advisers LLC now owns 1,586 shares of the company’s stock valued at $110,000 after buying an additional 1,462 shares during the last quarter. BlackRock Japan Co. Ltd boosted its stake in shares of Euronet Worldwide by 81.0% in the second quarter. BlackRock Japan Co. Ltd now owns 2,014 shares of the company’s stock valued at $139,000 after buying an additional 901 shares during the last quarter. Smithfield Trust Co. boosted its stake 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 valued at $142,000 after buying an additional 261 shares during the last quarter. Finally, Foundry Partners LLC bought a new stake in shares of Euronet Worldwide during the third quarter valued at about $238,000. Institutional investors and hedge funds 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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