Zacks: Analysts Expect Euronet Worldwide, Inc. (EEFT) Will Post Quarterly Sales of $594.08 Million
Analysts forecast that Euronet Worldwide, Inc. (NASDAQ:EEFT) will announce $594.08 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Euronet Worldwide’s earnings, with estimates ranging from $581.00 million to $612.00 million. Euronet Worldwide reported sales of $524.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The company is scheduled to report its next earnings report on Thursday, October 19th.
On average, analysts expect that Euronet Worldwide will report full year sales of $594.08 million for the current financial year, with estimates ranging from $2.17 billion to $2.24 billion. For the next year, analysts expect that the business will post sales of $2.41 billion per share, with estimates ranging from $2.29 billion to $2.51 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Euronet Worldwide.
Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. The company had revenue of $536.60 million during the quarter, compared to analysts’ expectations of $513.10 million. During the same quarter last year, the company posted $0.97 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year.
Several equities research analysts have recently issued reports on EEFT shares. BidaskClub raised shares of Euronet Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 6th. Lake Street Capital started coverage on shares of Euronet Worldwide in a research report on Monday, June 26th. They issued a “buy” rating and a $96.00 price objective for the company. Zacks Investment Research raised shares of Euronet Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Monday, July 17th. Finally, DA Davidson started coverage on shares of Euronet Worldwide in a research report on Wednesday, July 19th. They issued a “buy” rating and a $105.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $101.00.
Euronet Worldwide (NASDAQ EEFT) opened at 95.23 on Thursday. The stock has a market cap of $5.00 billion, a PE ratio of 30.74 and a beta of 1.34. Euronet Worldwide has a 12 month low of $70.51 and a 12 month high of $99.53. The firm has a 50-day moving average of $96.51 and a 200 day moving average of $89.87.
In related 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 transaction of $7,465,658.13. Following the completion of the sale, the chief financial officer now directly owns 81,221 shares of the company’s stock, valued at approximately $7,919,859.71. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeffrey B. Newman sold 24,535 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $92.01, for a total transaction of $2,257,465.35. Following the sale, the vice president now directly owns 16,918 shares of the company’s stock, valued at $1,556,625.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,574 shares of company stock valued at $29,668,269. Company insiders own 7.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EEFT. Janus Henderson Group PLC bought a new position in Euronet Worldwide during the 2nd quarter valued at $329,644,000. Janus Capital Management LLC boosted its stake in Euronet Worldwide by 15.3% during the 1st quarter. Janus Capital Management LLC now owns 3,361,668 shares of the business services provider’s stock valued at $287,489,000 after acquiring an additional 445,746 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Euronet Worldwide during the 1st quarter valued at $18,377,000. Marshall Wace North America L.P. bought a new position in Euronet Worldwide during the 1st quarter valued at $18,377,000. Finally, Renaissance Technologies LLC boosted its stake in Euronet Worldwide by 28.1% during the 1st quarter. Renaissance Technologies LLC now owns 836,045 shares of the business services provider’s stock valued at $71,499,000 after acquiring an additional 183,200 shares during the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.
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About Euronet Worldwide
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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