Euronet Worldwide, Inc. (EEFT) Receives Average Recommendation of “Buy” from Brokerages
Euronet Worldwide, Inc. (NASDAQ:EEFT) has been given a consensus rating of “Buy” by the eight brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $109.20.
Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies restated a “buy” rating and set a $112.00 target price on shares of Euronet Worldwide in a report on Sunday, October 22nd. BidaskClub upgraded shares of Euronet Worldwide from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Northland Securities reaffirmed a “buy” rating and set a $110.00 price target on shares of Euronet Worldwide in a research note on Thursday, October 19th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $99.00 price target (up from $96.00) on shares of Euronet Worldwide in a research note on Thursday, July 27th.
In related news, CFO Rick Weller sold 76,563 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,919,859.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrej Olechowski sold 10,276 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $97.30, for a total transaction of $999,854.80. Following the completion of the sale, the director now directly owns 14,355 shares in the company, valued at $1,396,741.50. The disclosure for this sale can be found here. Insiders have sold a total of 344,544 shares of company stock worth $33,692,580 over the last ninety days. 7.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC acquired a new stake in shares of Euronet Worldwide in the third quarter worth approximately $113,000. Fiduciary Trust Co. acquired a new stake in shares of Euronet Worldwide in the second quarter worth approximately $122,000. The Manufacturers Life Insurance Company boosted its position in shares of Euronet Worldwide by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock worth $149,000 after acquiring an additional 116 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Euronet Worldwide by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock worth $157,000 after acquiring an additional 167 shares during the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of Euronet Worldwide in the second quarter worth approximately $201,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Euronet Worldwide (EEFT) opened at 98.18 on Friday. The stock has a market cap of $5.16 billion, a PE ratio of 31.69 and a beta of 1.34. The stock’s 50 day moving average is $96.92 and its 200-day moving average is $91.32. Euronet Worldwide has a 1-year low of $70.51 and a 1-year high of $101.07.
Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, October 19th. The business services provider reported $1.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.61. Euronet Worldwide had a net margin of 9.63% and a return on equity of 23.76%. The firm had revenue of $637.90 million during the quarter, compared to the consensus estimate of $595.09 million. During the same period last year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, analysts predict that Euronet Worldwide will post $4.56 EPS for the current fiscal year.
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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