Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) Issues Q3 Earnings Guidance
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.07-0.11 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.18. The company issued revenue guidance of $413-434 million, compared to the consensus revenue estimate of $448.40 million.Blackhawk Network Holdings also updated its FY17 guidance to $1.56-1.70 EPS.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Blackhawk Network Holdings from a sell rating to a hold rating in a research report on Wednesday, March 29th. BidaskClub upgraded shares of Blackhawk Network Holdings from a hold rating to a buy rating in a research report on Thursday, June 29th. First Analysis lifted their target price on shares of Blackhawk Network Holdings from $44.00 to $47.00 and gave the company an overweight rating in a research report on Thursday, March 23rd. TheStreet lowered shares of Blackhawk Network Holdings from a b- rating to a c rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. upgraded shares of Blackhawk Network Holdings from a neutral rating to a buy rating and lifted their target price for the company from $39.00 to $47.00 in a research report on Friday, May 19th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $42.00.
Shares of Blackhawk Network Holdings, Inc. (NASDAQ HAWK) traded down 0.80% during trading on Wednesday, hitting $43.45. 737,879 shares of the company’s stock were exchanged. Blackhawk Network Holdings, Inc. has a 1-year low of $28.88 and a 1-year high of $44.90. The stock’s 50-day moving average price is $42.98 and its 200-day moving average price is $39.75. The stock’s market cap is $2.45 billion.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Blackhawk Network Holdings had a negative net margin of 0.27% and a positive return on equity of 8.36%. The company had revenue of $463.10 million for the quarter, compared to the consensus estimate of $447.43 million. During the same period last year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities analysts expect that Blackhawk Network Holdings, Inc. will post $1.65 earnings per share for the current fiscal year.
In related news, insider Roche L. Talbott Hoskins sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $41.25, for a total value of $825,000.00. Following the completion of the transaction, the insider now owns 240,931 shares in the company, valued at approximately $9,938,403.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jerry N. Ulrich sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $41.90, for a total transaction of $1,257,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,153 shares of company stock worth $3,198,121. 3.80% of the stock is currently owned by corporate insiders.
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About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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