Euronet Worldwide, Inc. (NASDAQ:EEFT) Issues Earnings Results
Euronet Worldwide, Inc. (NASDAQ:EEFT) released its quarterly earnings data on Tuesday. The business services provider reported $1.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by $0.07, Morningstar.com reports. The company had revenue of $536.60 million for the quarter, compared to analyst estimates of $513.10 million. Euronet Worldwide had a return on equity of 22.77% and a net margin of 8.70%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. Euronet Worldwide updated its Q3 guidance to ~$1.60 EPS.
Shares of Euronet Worldwide (EEFT) traded up 0.12% during trading on Wednesday, hitting $92.94. The stock had a trading volume of 99,993 shares. Euronet Worldwide has a 12-month low of $70.51 and a 12-month high of $93.72. The company has a market cap of $4.87 billion, a PE ratio of 28.97 and a beta of 1.33. The stock’s 50 day moving average is $88.44 and its 200-day moving average is $83.14.
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A number of equities analysts have weighed in on EEFT shares. Lake Street Capital started coverage on Euronet Worldwide in a research note on Monday, June 26th. They set a “buy” rating and a $96.00 price objective on the stock. Zacks Investment Research raised Euronet Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Monday, July 17th. Finally, DA Davidson started coverage on Euronet Worldwide in a research note on Wednesday, July 19th. They set a “buy” rating and a $105.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $99.60.
In other news, VP Jeffrey B. Newman sold 3,433 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $92.00, for a total transaction of $315,836.00. Following the transaction, the vice president now owns 16,386 shares in the company, valued at $1,507,512. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Juan Bianchi sold 18,126 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $88.01, for a total value of $1,595,269.26. Following the transaction, the chief executive officer now owns 9,534 shares in the company, valued at approximately $839,087.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,094 shares of company stock worth $4,168,571. Insiders own 7.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in EEFT. Boston Advisors LLC purchased a new position in shares of Euronet Worldwide during the second quarter valued at approximately $10,961,000. Russell Investments Group Ltd. raised its position in shares of Euronet Worldwide by 100.6% in the second quarter. Russell Investments Group Ltd. now owns 23,146 shares of the business services provider’s stock valued at $2,023,000 after buying an additional 11,606 shares in the last quarter. US Bancorp DE raised its position in shares of Euronet Worldwide by 5.9% in the second quarter. US Bancorp DE now owns 19,468 shares of the business services provider’s stock valued at $1,701,000 after buying an additional 1,091 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of Euronet Worldwide by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 788,262 shares of the business services provider’s stock valued at $68,870,000 after buying an additional 3,010 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of Euronet Worldwide by 11.6% in the second quarter. Aperio Group LLC now owns 2,920 shares of the business services provider’s stock valued at $255,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 94.40% 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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