Wall Street brokerages expect Moneygram International, Inc. (NASDAQ:MGI) to announce sales of $402.93 million for the current quarter, Zacks reports. Three analysts have issued estimates for Moneygram International’s earnings, with the lowest sales estimate coming in at $401.90 million and the highest estimate coming in at $403.90 million. Moneygram International posted sales of $416.20 million during the same quarter last year, which suggests a negative year over year growth rate of 3.2%. The business is expected to report its next earnings report on Wednesday, March 21st.

On average, analysts expect that Moneygram International will report full-year sales of $402.93 million for the current financial year, with estimates ranging from $1.60 billion to $1.62 billion. For the next year, analysts expect that the company will post sales of $1.67 billion per share, with estimates ranging from $1.63 billion to $1.69 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Moneygram International.

Several research firms have recently commented on MGI. ValuEngine lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 30th. Finally, Northland Securities reissued a “hold” rating on shares of Moneygram International in a research report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Moneygram International presently has an average rating of “Hold” and a consensus target price of $16.21.

Several large investors have recently bought and sold shares of the business. USA Financial Portformulas Corp grew its stake in shares of Moneygram International by 3.9% in the second quarter. USA Financial Portformulas Corp now owns 22,769 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 852 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Moneygram International by 4.8% in the second quarter. Wells Fargo & Company MN now owns 21,129 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 973 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Moneygram International by 34.1% in the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 2,015 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Moneygram International by 20.8% in the second quarter. Voya Investment Management LLC now owns 14,878 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 2,562 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Moneygram International by 10.8% in the second quarter. New York State Common Retirement Fund now owns 29,700 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 2,899 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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Moneygram International (NASDAQ MGI) opened at $14.77 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of -2.47. Moneygram International has a 12 month low of $10.36 and a 12 month high of $17.92. The firm has a market cap of $798.29, a P/E ratio of 17.79 and a beta of 2.00.

Moneygram International Company Profile

MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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