Shares of Evertec Inc. (NYSE:EVTC) have received an average rating of “Hold” from the eight analysts that are presently covering the firm. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.00.
Several brokerages recently commented on EVTC. Zacks Investment Research cut Evertec from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Deutsche Bank AG upped their target price on Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a report on Friday, July 29th. Finally, Compass Point upped their target price on Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 29th.
Evertec (NYSE:EVTC) traded up 0.64% on Friday, hitting $15.80. 56,701 shares of the stock were exchanged. The company has a market capitalization of $1.18 billion, a PE ratio of 13.80 and a beta of 1.12. The company has a 50-day moving average price of $16.67 and a 200 day moving average price of $15.57. Evertec has a 1-year low of $11.27 and a 1-year high of $19.63.
Evertec (NYSE:EVTC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Evertec had a return on equity of 118.58% and a net margin of 19.59%. The firm earned $97.70 million during the quarter, compared to analysts’ expectations of $93.40 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts anticipate that Evertec will post $1.71 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in EVTC. Bank of Montreal Can acquired a new position in Evertec during the second quarter worth $1,271,000. Skyline Asset Management LP boosted its position in Evertec by 4.1% in the first quarter. Skyline Asset Management LP now owns 934,000 shares of the company’s stock worth $13,057,000 after buying an additional 37,100 shares in the last quarter. Renaissance Technologies LLC boosted its position in Evertec by 54.0% in the first quarter. Renaissance Technologies LLC now owns 2,211,100 shares of the company’s stock worth $30,911,000 after buying an additional 775,300 shares in the last quarter. Bogle Investment Management L P DE acquired a new position in Evertec during the first quarter worth $4,446,000. Finally, Wellington Management Group LLP boosted its position in Evertec by 4.0% in the first quarter. Wellington Management Group LLP now owns 917,703 shares of the company’s stock worth $12,829,000 after buying an additional 35,268 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Evertec Company Profile
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
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