Euronet Worldwide, Inc. (EEFT) Expected to Announce Quarterly Sales of $593.81 Million
Wall Street analysts expect that Euronet Worldwide, Inc. (NASDAQ:EEFT) will announce $593.81 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Euronet Worldwide’s earnings. The highest sales estimate is $612.00 million and the lowest is $581.00 million. Euronet Worldwide reported sales of $524.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The business is expected to announce its next quarterly earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Euronet Worldwide will report full year sales of $593.81 million for the current financial year, with estimates ranging from $2.17 billion to $2.24 billion. For the next financial year, analysts expect that the company will report sales of $2.40 billion per share, with estimates ranging from $2.29 billion to $2.51 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Euronet Worldwide.
Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $536.60 million during the quarter, compared to the consensus estimate of $513.10 million. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. Euronet Worldwide’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share.
Several brokerages have commented on EEFT. Zacks Investment Research cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. DA Davidson began coverage on shares of Euronet Worldwide in a research report on Wednesday, July 19th. They issued a “buy” rating and a $105.00 price target for the company. Lake Street Capital began coverage on shares of Euronet Worldwide in a research report on Monday, June 26th. They issued a “buy” rating and a $96.00 price target for the company. Finally, BidaskClub raised shares of Euronet Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 6th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Euronet Worldwide presently has a consensus rating of “Buy” and a consensus price target of $100.20.
Euronet Worldwide (NASDAQ:EEFT) opened at 98.68 on Friday. The company has a market cap of $5.18 billion, a P/E ratio of 31.85 and a beta of 1.36. The company has a 50-day moving average of $96.86 and a 200-day moving average of $88.66. Euronet Worldwide has a 52 week low of $70.51 and a 52 week high of $99.04.
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In other news, CFO Rick Weller sold 76,563 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $97.51, for a total value of $7,465,658.13. Following the sale, the chief financial officer now directly owns 81,221 shares in the company, valued at approximately $7,919,859.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeffrey B. Newman sold 3,433 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $92.00, for a total transaction of $315,836.00. Following the completion of the sale, the vice president now owns 16,386 shares in the company, valued at $1,507,512. The disclosure for this sale can be found here. Insiders sold a total of 306,574 shares of company stock worth $29,668,269 over the last 90 days. Company insiders own 7.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EEFT. Fiduciary Trust Co. acquired a new stake in shares of Euronet Worldwide in the 2nd quarter valued at $122,000. The Manufacturers Life Insurance Company raised its holdings in shares of Euronet Worldwide by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 116 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Euronet Worldwide by 10.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 167 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of Euronet Worldwide in the 2nd quarter valued at $201,000. Finally, Capstone Asset Management Co. acquired a new stake in shares of Euronet Worldwide in the 2nd quarter valued at $206,000. Institutional investors and hedge funds own 93.96% 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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