Zacks Investment Research lowered shares of Evertec (NYSE:EVTC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “
A number of other brokerages have also issued reports on EVTC. Cowen reissued a market perform rating and set a $18.00 target price (up previously from $14.00) on shares of Evertec in a research note on Thursday. Morgan Stanley reissued an equal weight rating and set a $18.00 target price (up previously from $17.00) on shares of Evertec in a research note on Thursday. Goldman Sachs Group raised shares of Evertec from a sell rating to a neutral rating in a research note on Thursday. BidaskClub lowered shares of Evertec from a sell rating to a strong sell rating in a research note on Friday, October 27th. Finally, Deutsche Bank decreased their target price on shares of Evertec from $18.00 to $16.00 and set a hold rating for the company in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $17.00.
Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $99.63 million during the quarter, compared to analyst estimates of $89.98 million. Evertec had a net margin of 13.52% and a return on equity of 80.93%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. equities research analysts expect that Evertec will post 1.31 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC acquired a new stake in shares of Evertec in the 4th quarter valued at $141,000. SG Americas Securities LLC acquired a new stake in shares of Evertec in the 3rd quarter valued at $146,000. Boothbay Fund Management LLC acquired a new stake in shares of Evertec in the 3rd quarter valued at $187,000. Fox Run Management L.L.C. acquired a new stake in shares of Evertec in the 3rd quarter valued at $189,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of Evertec in the 4th quarter valued at $203,000. 79.15% of the stock is owned by institutional investors and hedge funds.
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Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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