Zacks Investment Research upgraded shares of Euronet Worldwide Inc. (NASDAQ:EEFT) from a hold rating to a buy rating in a report released on Wednesday. The brokerage currently has $94.00 price objective on the stock.
According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “
Separately, SunTrust Banks Inc. initiated coverage on shares of Euronet Worldwide in a research report on Wednesday, October 12th. They set a buy rating and a $98.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $88.14.
Euronet Worldwide (NASDAQ:EEFT) opened at 83.53 on Wednesday. The company has a market capitalization of $4.35 billion, a PE ratio of 30.35 and a beta of 1.49. Euronet Worldwide has a 52-week low of $52.00 and a 52-week high of $84.81. The company has a 50-day moving average price of $80.61 and a 200 day moving average price of $76.90.
Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Tuesday, July 26th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.07. The business had revenue of $476.90 million for the quarter, compared to analyst estimates of $470.99 million. Euronet Worldwide had a net margin of 8.01% and a return on equity of 22.65%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Equities research analysts anticipate that Euronet Worldwide will post $4.07 earnings per share for the current year.
In related news, VP Jeffrey B. Newman sold 5,772 shares of Euronet Worldwide stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $77.80, for a total transaction of $449,061.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Caponecchi sold 58,573 shares of Euronet Worldwide stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $75.52, for a total transaction of $4,423,432.96. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.
A number of large investors have recently made changes to their positions in EEFT. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Euronet Worldwide during the first quarter valued at $25,939,000. Kennedy Capital Management Inc. increased its stake in shares of Euronet Worldwide by 13.8% in the first quarter. Kennedy Capital Management Inc. now owns 279,616 shares of the company’s stock valued at $20,722,000 after buying an additional 33,952 shares during the period. Geode Capital Management LLC increased its stake in shares of Euronet Worldwide by 3.7% in the first quarter. Geode Capital Management LLC now owns 344,720 shares of the company’s stock valued at $25,547,000 after buying an additional 12,295 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Euronet Worldwide by 5.7% in the first quarter. Loomis Sayles & Co. L P now owns 774,445 shares of the company’s stock valued at $57,394,000 after buying an additional 41,439 shares during the period. Finally, State Street Corp increased its stake in shares of Euronet Worldwide by 2.4% in the first quarter. State Street Corp now owns 956,898 shares of the company’s stock valued at $70,918,000 after buying an additional 22,785 shares during the period. Institutional investors own 89.80% of the company’s stock.
Euronet Worldwide Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Euronet Worldwide Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euronet Worldwide Inc. and related companies with MarketBeat.com's FREE daily email newsletter.