Brokerages Expect Moneygram International Inc (MGI) Will Post Earnings of $0.26 Per Share

Analysts expect Moneygram International Inc (NASDAQ:MGI) to report earnings of $0.26 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Moneygram International’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.29. Moneygram International reported earnings per share of $0.20 in the same quarter last year, which would suggest a positive year over year growth rate of 30%. The company is scheduled to report its next quarterly earnings report on Wednesday, March 21st.

On average, analysts expect that Moneygram International will report full-year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.99 to $1.04. For the next financial year, analysts forecast that the firm will post earnings of $1.13 per share, with EPS estimates ranging from $1.08 to $1.18. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Moneygram International.

Moneygram International (NASDAQ:MGI) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Moneygram International had a negative return on equity of 14.19% and a net margin of 1.86%. The firm had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $415.38 million.

A number of analysts have issued reports on MGI shares. ValuEngine raised Moneygram International from a “hold” rating to a “buy” rating in a report on Saturday, December 9th. Zacks Investment Research downgraded Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. BidaskClub downgraded Moneygram International from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, JPMorgan Chase & Co. downgraded Moneygram International from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.21.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in Moneygram International by 108.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock worth $120,000 after buying an additional 3,618 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Moneygram International in the 3rd quarter valued at about $145,000. Voya Investment Management LLC lifted its holdings in shares of Moneygram International by 20.8% in the 2nd quarter. Voya Investment Management LLC now owns 14,878 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 2,562 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Moneygram International by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 21,129 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 973 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Moneygram International by 107.9% in the 3rd quarter. Alps Advisors Inc. now owns 21,456 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 11,137 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Shares of Moneygram International (MGI) traded down $0.01 during midday trading on Friday, reaching $12.97. The company’s stock had a trading volume of 279,235 shares, compared to its average volume of 1,740,000. The stock has a market cap of $703.38, a P/E ratio of 28.82 and a beta of 1.92. The company has a debt-to-equity ratio of -2.47, a current ratio of 0.05 and a quick ratio of 0.05. Moneygram International has a 12 month low of $11.43 and a 12 month high of $17.92.

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About Moneygram International

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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