Analysts predict that Moneygram International Inc (NASDAQ:MGI) will post earnings of $0.12 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Moneygram International’s earnings, with estimates ranging from $0.03 to $0.18. Moneygram International posted earnings of $0.26 per share during the same quarter last year, which would suggest a negative year over year growth rate of 53.8%. The firm is expected to report its next quarterly earnings results on Friday, March 15th.
On average, analysts expect that Moneygram International will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.78. For the next financial year, analysts forecast that the company will report earnings of $0.53 per share, with EPS estimates ranging from $0.48 to $0.58. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Moneygram International.
Moneygram International (NASDAQ:MGI) last released its earnings results on Thursday, November 8th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.08. The business had revenue of $347.20 million for the quarter, compared to analyst estimates of $378.73 million. Moneygram International had a negative net margin of 4.24% and a negative return on equity of 10.35%. The company’s revenue was up 14.1% on a year-over-year basis.
MGI has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a report on Friday, August 10th. Morgan Stanley dropped their target price on shares of Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a report on Monday, August 6th. BidaskClub upgraded shares of Moneygram International from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Evercore ISI lowered shares of Moneygram International from an “in-line” rating to an “underperform” rating in a report on Friday, November 9th. Finally, Barclays began coverage on shares of Moneygram International in a report on Wednesday, November 14th. They set an “underweight” rating and a $2.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company has an average rating of “Sell” and a consensus target price of $5.08.
Several hedge funds and other institutional investors have recently made changes to their positions in MGI. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Moneygram International in the 3rd quarter worth about $187,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Moneygram International in the 3rd quarter worth about $199,000. Martingale Asset Management L P acquired a new stake in shares of Moneygram International in the 2nd quarter worth about $203,000. JPMorgan Chase & Co. raised its holdings in shares of Moneygram International by 743.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,859 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 46,589 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Moneygram International by 1,420.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 63,160 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 59,007 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.
MGI stock traded up $0.12 during midday trading on Thursday, hitting $2.27. The stock had a trading volume of 491,644 shares, compared to its average volume of 614,781. The firm has a market cap of $116.79 million, a price-to-earnings ratio of 2.58 and a beta of 2.02. Moneygram International has a 1-year low of $2.02 and a 1-year high of $14.44.
Moneygram International Company Profile
MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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