Zacks: Brokerages Anticipate Moneygram International Inc (MGI) Will Post Earnings of $0.26 Per Share

Brokerages expect Moneygram International Inc (NASDAQ:MGI) to report $0.26 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Moneygram International’s earnings, with estimates ranging from $0.20 to $0.29. Moneygram International also reported earnings per share of $0.26 during the same quarter last year. The firm is scheduled to announce its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Moneygram International will report full year earnings of $1.13 per share for the current year, with EPS estimates ranging from $0.97 to $1.24. For the next year, analysts expect that the firm will post earnings of $1.34 per share, with EPS estimates ranging from $1.27 to $1.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Moneygram International.

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Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Friday, March 16th. The financial services provider reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Moneygram International had a negative net margin of 1.86% and a negative return on equity of 14.43%. The firm had revenue of $408.20 million for the quarter, compared to analyst estimates of $404.69 million. During the same period in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year.

Several equities analysts have recently commented on MGI shares. TheStreet lowered shares of Moneygram International from a “c” rating to a “d+” rating in a report on Friday, March 16th. ValuEngine lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, JPMorgan Chase lowered shares of Moneygram International from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.70.

A number of institutional investors and hedge funds have recently made changes to their positions in MGI. Teacher Retirement System of Texas purchased a new stake in Moneygram International during the 4th quarter worth approximately $133,000. Landscape Capital Management L.L.C. purchased a new stake in Moneygram International during the 4th quarter worth approximately $166,000. MetLife Investment Advisors LLC purchased a new stake in Moneygram International during the 4th quarter worth approximately $194,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Moneygram International during the 4th quarter worth approximately $250,000. Finally, Millennium Management LLC purchased a new stake in Moneygram International during the 4th quarter worth approximately $257,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MGI stock opened at $8.26 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.12. Moneygram International has a one year low of $8.01 and a one year high of $17.92. The company has a market capitalization of $458.11, a PE ratio of 9.39 and a beta of 1.87.

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About Moneygram International

MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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