William Blair Lowers Euronet Worldwide (EEFT) to Market Perform

Euronet Worldwide (NASDAQ:EEFT) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a report issued on Monday.

A number of other brokerages have also commented on EEFT. Piper Jaffray Companies restated a “buy” rating and issued a $112.00 price target on shares of Euronet Worldwide in a report on Sunday, October 22nd. Zacks Investment Research downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. SunTrust Banks reaffirmed a “buy” rating and issued a $120.00 target price on shares of Euronet Worldwide in a research report on Friday, October 6th. Northland Securities reaffirmed a “buy” rating and issued a $110.00 target price on shares of Euronet Worldwide in a research report on Thursday, October 19th. Finally, BidaskClub raised Euronet Worldwide from a “sell” rating to a “hold” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Euronet Worldwide currently has an average rating of “Buy” and a consensus price target of $108.86.

Shares of Euronet Worldwide (NASDAQ:EEFT) opened at $91.90 on Monday. The company has a market capitalization of $4,841.38, a PE ratio of 22.04, a PEG ratio of 1.42 and a beta of 1.36. Euronet Worldwide has a twelve month low of $70.51 and a twelve month high of $101.07. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.50.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Thursday, October 19th. The business services provider reported $1.61 EPS for the quarter, meeting analysts’ consensus estimates of $1.61. The company had revenue of $637.90 million for the quarter, compared to analyst estimates of $595.09 million. Euronet Worldwide had a return on equity of 22.46% and a net margin of 9.63%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 earnings per share. sell-side analysts anticipate that Euronet Worldwide will post 4.33 EPS for the current year.

In other Euronet Worldwide news, CFO Rick Weller sold 12,400 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $92.01, for a total transaction of $1,140,924.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nikos Fountas sold 296 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $92.00, for a total value of $27,232.00. Following the transaction, the chief executive officer now directly owns 550 shares in the company, valued at approximately $50,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,634 shares of company stock worth $7,765,768. 7.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bristlecone Advisors LLC acquired a new position in Euronet Worldwide during the third quarter worth approximately $113,000. Fiduciary Trust Co. acquired a new position in Euronet Worldwide during the second quarter worth approximately $122,000. The Manufacturers Life Insurance Company increased its position in Euronet Worldwide by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock worth $149,000 after buying an additional 116 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Euronet Worldwide by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock worth $157,000 after buying an additional 167 shares during the last quarter. Finally, Turner Investments LLC acquired a new position in Euronet Worldwide during the third quarter worth approximately $174,000. 95.39% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “William Blair Lowers Euronet Worldwide (EEFT) to Market Perform” was reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/18/william-blair-lowers-euronet-worldwide-eeft-to-market-perform.html.

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.