$1.22 Billion in Sales Expected for Total System Services, Inc. (TSS) This Quarter
Brokerages expect Total System Services, Inc. (NYSE:TSS) to post $1.22 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Total System Services’ earnings, with the highest sales estimate coming in at $1.22 billion and the lowest estimate coming in at $1.21 billion. Total System Services posted sales of $789.59 million during the same quarter last year, which suggests a positive year-over-year growth rate of 54.5%. The company is scheduled to announce its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Total System Services will report full year sales of $1.22 billion for the current financial year, with estimates ranging from $4.83 billion to $4.84 billion. For the next financial year, analysts expect that the business will report sales of $5.10 billion per share, with estimates ranging from $5.07 billion to $5.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Total System Services.
Total System Services (NYSE:TSS) last posted its earnings results on Tuesday, July 25th. The credit services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Total System Services had a return on equity of 25.49% and a net margin of 8.78%. The firm had revenue of $844.07 million during the quarter, compared to analyst estimates of $842.57 million. During the same period in the previous year, the company earned $0.74 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis.
Several research firms recently commented on TSS. KeyCorp reiterated an “overweight” rating on shares of Total System Services in a research note on Thursday. Mizuho began coverage on Total System Services in a research note on Tuesday, June 27th. They issued a “neutral” rating and a $63.00 price objective on the stock. Barclays PLC upped their price objective on Total System Services from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 25th. First Analysis downgraded Total System Services from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $60.00 to $63.00 in a research note on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, Instinet upped their price objective on Total System Services from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, June 6th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Total System Services has an average rating of “Buy” and a consensus target price of $65.05.
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In related news, Director Richard W. Ussery sold 48,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $59.19, for a total value of $2,841,120.00. Following the sale, the director now owns 219,968 shares in the company, valued at $13,019,905.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul M. Todd sold 4,057 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $63.50, for a total value of $257,619.50. The disclosure for this sale can be found here. Insiders sold 291,503 shares of company stock worth $18,332,089 in the last quarter. 2.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in Total System Services by 34.6% in the fourth quarter. Macquarie Group Ltd. now owns 12,800 shares of the credit services provider’s stock worth $628,000 after buying an additional 3,291 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Total System Services by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,412 shares of the credit services provider’s stock worth $221,000 after buying an additional 176 shares in the last quarter. Korea Investment CORP purchased a new position in Total System Services during the first quarter worth approximately $1,155,000. ProShare Advisors LLC boosted its position in Total System Services by 2.2% in the first quarter. ProShare Advisors LLC now owns 45,007 shares of the credit services provider’s stock worth $2,406,000 after buying an additional 956 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in Total System Services by 23.1% in the first quarter. Glen Harbor Capital Management LLC now owns 29,344 shares of the credit services provider’s stock worth $1,569,000 after buying an additional 5,516 shares in the last quarter. 76.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Total System Services (NYSE TSS) traded up 0.66% on Thursday, reaching $68.65. The company’s stock had a trading volume of 156,609 shares. Total System Services has a 1-year low of $46.22 and a 1-year high of $68.93. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 33.31 and a beta of 1.14. The company’s 50 day moving average is $63.19 and its 200-day moving average is $57.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 29th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Wednesday, September 20th. This is an increase from Total System Services’s previous quarterly dividend of $0.10. Total System Services’s dividend payout ratio (DPR) is 19.51%.
About Total System Services
Total System Services, Inc (TSYS) is a payment solutions provider that provides payment processing services, merchant services and related payment services to financial and non-financial institutions. The Company’s segments include North America Services, Merchant Services, NetSpend and International Services.
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