Evertec (NYSE:EVTC) Posts Earnings Results, Beats Expectations By $0.09 EPS

Evertec (NYSE:EVTC) issued its quarterly earnings data on Tuesday. The business services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.98 by $0.09, FiscalAI reports. The business had revenue of $282.99 million for the quarter, compared to the consensus estimate of $272.94 million. Evertec had a return on equity of 32.07% and a net margin of 9.80%.

Evertec Stock Down 4.5%

Shares of EVTC traded down $1.49 during midday trading on Tuesday, hitting $31.23. The stock had a trading volume of 519,509 shares, compared to its average volume of 498,376. The company has a 50 day simple moving average of $29.64 and a two-hundred day simple moving average of $28.41. Evertec has a twelve month low of $21.81 and a twelve month high of $34.41. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.70 and a quick ratio of 1.70.

Evertec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Monday, November 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 9th. Evertec’s dividend payout ratio is 12.99%.

Insider Transactions at Evertec

In related news, Director Aldo Polak sold 1,094 shares of Evertec stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $30.37, for a total value of $33,224.78. Following the sale, the director owned 14,849 shares of the company’s stock, valued at approximately $450,964.13. This trade represents a 6.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paola Perez-Surillo sold 17,486 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $31.56, for a total value of $551,858.16. Following the completion of the sale, the executive vice president owned 46,421 shares in the company, valued at $1,465,046.76. The trade was a 27.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 20,580 shares of company stock worth $644,673. Corporate insiders own 1.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley set a $34.00 price objective on Evertec in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Evertec from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Finally, Wall Street Zen raised shares of Evertec from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Evertec presently has an average rating of “Hold” and an average price target of $35.00.

Evertec Company Profile

Evertec, Inc is a payment processing and financial technology company that provides transaction-processing services and business technology solutions to financial institutions, merchants, government agencies and other organizations. The company operates through businesses that support electronic payments, merchant acquiring, payment networks and related financial services.

Its products and services include debit and credit card processing, point-of-sale and e-commerce payment acceptance, automated teller machine processing, prepaid services, electronic bill payment and money transfer solutions.