Qiwi PLC (NASDAQ:QIWI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage currently has a $25.00 price target on the credit services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.76% from the stock’s current price.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

Several other research firms have also commented on QIWI. ValuEngine lowered Qiwi PLC from a “buy” rating to a “hold” rating in a report on Thursday, May 18th. Credit Suisse Group AG began coverage on Qiwi PLC in a report on Friday, April 7th. They issued a “neutral” rating and a $18.00 target price on the stock. TheStreet raised Qiwi PLC from a “d+” rating to a “c-” rating in a report on Wednesday, April 12th. Finally, JPMorgan Chase & Co. raised Qiwi PLC from a “neutral” rating to an “overweight” rating and increased their target price for the company from $15.00 to $23.00 in a report on Monday, April 10th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Qiwi PLC has an average rating of “Buy” and an average price target of $22.00.

Qiwi PLC (NASDAQ:QIWI) traded up 1.44% during mid-day trading on Wednesday, hitting $23.20. The stock had a trading volume of 373,037 shares. Qiwi PLC has a 52-week low of $11.26 and a 52-week high of $23.37. The stock has a market cap of $1.41 billion, a P/E ratio of 17.00 and a beta of 3.54. The firm has a 50-day moving average of $19.31 and a 200-day moving average of $15.34.

Qiwi PLC (NASDAQ:QIWI) last posted its earnings results on Wednesday, May 17th. The credit services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.72 billion. Qiwi PLC had a return on equity of 20.46% and a net margin of 21.93%. Qiwi PLC’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $20.41 earnings per share. On average, analysts forecast that Qiwi PLC will post $1.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Tuesday, May 30th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 25th. This represents a $0.80 annualized dividend and a yield of 3.45%. Qiwi PLC’s dividend payout ratio is presently 112.63%.

COPYRIGHT VIOLATION WARNING: This story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/05/27/zacks-investment-research-upgrades-qiwi-plc-qiwi-to-strong-buy.html.

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC bought a new position in Qiwi PLC during the first quarter valued at about $143,000. Koch Industries Inc. bought a new position in Qiwi PLC during the fourth quarter valued at about $148,000. Dynamic Technology Lab Private Ltd bought a new position in Qiwi PLC during the fourth quarter valued at about $170,000. KCG Holdings Inc. bought a new position in Qiwi PLC during the first quarter valued at about $200,000. Finally, Quantbot Technologies LP increased its position in Qiwi PLC by 141.4% in the first quarter. Quantbot Technologies LP now owns 11,982 shares of the credit services provider’s stock valued at $205,000 after buying an additional 7,018 shares in the last quarter. Institutional investors own 41.87% of the company’s stock.

About Qiwi PLC

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

12 Month Chart for NASDAQ:QIWI

Get a free copy of the Zacks research report on Qiwi PLC (QIWI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Qiwi PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qiwi PLC and related companies with MarketBeat.com's FREE daily email newsletter.