MoneyGram International Inc. (NASDAQ:MGI)‘s stock had its “neutral” rating restated by Compass Point in a research note issued to investors on Tuesday. They currently have a $8.00 price target on the stock. Compass Point’s price objective indicates a potential upside of 16.96% from the company’s previous close.
MGI has been the topic of several other research reports. JPMorgan Chase & Co. downgraded MoneyGram International from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, July 12th. William Blair reaffirmed an “outperform” rating on shares of MoneyGram International in a research note on Tuesday, July 19th. Finally, Zacks Investment Research raised MoneyGram International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a research note on Thursday, July 21st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $8.17.
Shares of MoneyGram International (NASDAQ:MGI) opened at 6.84 on Tuesday. MoneyGram International has a 52 week low of $4.68 and a 52 week high of $10.92. The firm has a market capitalization of $365.56 million, a price-to-earnings ratio of 68.40 and a beta of 1.69. The firm has a 50-day moving average price of $7.09 and a 200-day moving average price of $6.76.
MoneyGram International (NASDAQ:MGI) last announced its earnings results on Friday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.06. The business had revenue of $383.70 million for the quarter, compared to the consensus estimate of $389.16 million. MoneyGram International had a net margin of 0.43% and a negative return on equity of 10.13%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. On average, equities analysts expect that MoneyGram International will post $0.78 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Alambic Investment Management L.P. purchased a new stake in MoneyGram International during the second quarter worth approximately $119,000. Panagora Asset Management Inc. raised its stake in shares of MoneyGram International by 252.8% in the second quarter. Panagora Asset Management Inc. now owns 19,501 shares of the company’s stock worth $134,000 after buying an additional 13,973 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in shares of MoneyGram International during the second quarter worth about $149,000. Menta Capital LLC bought a new stake in shares of MoneyGram International during the first quarter worth about $213,000. Finally, Landscape Capital Management L.L.C. raised its stake in shares of MoneyGram International by 64.4% in the first quarter. Landscape Capital Management L.L.C. now owns 47,520 shares of the company’s stock worth $291,000 after buying an additional 18,620 shares during the period. 92.46% of the stock is currently owned by institutional investors.
MoneyGram International Company Profile
MoneyGram International, Inc is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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