$1.25 Earnings Per Share Expected for Deluxe Corporation (DLX) This Quarter
Wall Street analysts expect Deluxe Corporation (NYSE:DLX) to announce earnings per share (EPS) of $1.25 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Deluxe Corporation’s earnings, with estimates ranging from $1.23 to $1.28. Deluxe Corporation reported earnings per share of $1.22 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.5%. The firm is expected to report its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Deluxe Corporation will report full year earnings of $5.25 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Deluxe Corporation.
Deluxe Corporation (NYSE:DLX) last issued its earnings results on Thursday, July 27th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. The company had revenue of $485.20 million for the quarter, compared to analysts’ expectations of $479.42 million. During the same quarter last year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis.
A number of brokerages have issued reports on DLX. BidaskClub upgraded shares of Deluxe Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, May 2nd.
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In other news, VP John D. Filby sold 18,936 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.21, for a total value of $1,367,368.56. Following the sale, the vice president now directly owns 46,154 shares of the company’s stock, valued at approximately $3,332,780.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald C. Baldwin sold 2,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.41, for a total transaction of $144,820.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. increased its stake in Deluxe Corporation by 1.9% in the first quarter. Hartford Investment Management Co. now owns 3,906 shares of the business services provider’s stock valued at $282,000 after buying an additional 71 shares during the period. Renaissance Technologies LLC increased its stake in Deluxe Corporation by 52.1% in the fourth quarter. Renaissance Technologies LLC now owns 29,200 shares of the business services provider’s stock valued at $2,091,000 after buying an additional 10,000 shares during the period. American International Group Inc. increased its stake in Deluxe Corporation by 4.1% in the first quarter. American International Group Inc. now owns 125,372 shares of the business services provider’s stock valued at $9,048,000 after buying an additional 4,899 shares during the period. Pacer Advisors Inc. increased its stake in Deluxe Corporation by 22.0% in the first quarter. Pacer Advisors Inc. now owns 5,408 shares of the business services provider’s stock valued at $390,000 after buying an additional 975 shares during the period. Finally, BlackRock Inc. increased its stake in Deluxe Corporation by 23,073.3% in the first quarter. BlackRock Inc. now owns 5,191,045 shares of the business services provider’s stock valued at $374,639,000 after buying an additional 5,168,644 shares during the period. 93.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Deluxe Corporation (DLX) traded down 0.46% during midday trading on Tuesday, reaching $69.33. 199,892 shares of the company traded hands. Deluxe Corporation has a 1-year low of $59.47 and a 1-year high of $75.94. The company has a market capitalization of $3.35 billion, a PE ratio of 14.83 and a beta of 1.35. The company has a 50 day moving average price of $70.30 and a 200 day moving average price of $71.28.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.73%. Deluxe Corporation’s payout ratio is 25.64%.
About Deluxe Corporation
Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.
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