Blackhawk Network Holdings, Inc. (HAWK) Updates FY17 Earnings Guidance
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.56-1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.68. The company issued revenue guidance of $2.169-2.262 billion, compared to the consensus revenue estimate of $2.29 billion.
Shares of Blackhawk Network Holdings, Inc. (NASDAQ HAWK) traded down 0.90% on Wednesday, hitting $44.20. The stock had a trading volume of 982,713 shares. The company’s market cap is $2.50 billion. The firm has a 50 day moving average price of $43.99 and a 200-day moving average price of $42.67. Blackhawk Network Holdings, Inc. has a 52 week low of $31.30 and a 52 week high of $46.70.
Blackhawk Network Holdings (NASDAQ:HAWK) last released its earnings results on Monday, October 9th. The credit services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $419.30 million during the quarter, compared to the consensus estimate of $439.32 million. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Analysts anticipate that Blackhawk Network Holdings, Inc. will post $1.68 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Blackhawk Network Holdings from a hold rating to a buy rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Blackhawk Network Holdings from a sell rating to a hold rating in a research report on Tuesday, July 4th. TheStreet downgraded Blackhawk Network Holdings from a b- rating to a c rating in a research report on Tuesday, June 20th. Mizuho initiated coverage on Blackhawk Network Holdings in a report on Tuesday, June 27th. They issued a buy rating and a $50.00 price objective for the company. Finally, Jefferies Group LLC reiterated a buy rating and issued a $53.00 price objective (up previously from $49.00) on shares of Blackhawk Network Holdings in a report on Monday, July 24th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $46.62.
In other news, CFO Jerry N. Ulrich sold 75,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following the completion of the transaction, the chief financial officer now directly owns 63,280 shares of the company’s stock, valued at $2,857,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David C. Tate sold 18,669 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $42.88, for a total value of $800,526.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,212 shares of company stock valued at $4,298,465. Insiders own 3.80% of the company’s stock.
About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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