SunTrust Banks, Inc. reissued their buy rating on shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) in a research report released on Friday morning. The firm currently has a $120.00 target price on the business services provider’s stock.
Several other equities research analysts have also recently issued reports on EEFT. Lake Street Capital started coverage on Euronet Worldwide in a report on Monday, June 26th. They issued a buy rating and a $96.00 target price on the stock. Zacks Investment Research raised Euronet Worldwide from a hold rating to a buy rating and set a $102.00 price objective on the stock in a research note on Monday, July 17th. DA Davidson initiated coverage on Euronet Worldwide in a research note on Wednesday, July 19th. They set a buy rating and a $105.00 price objective on the stock. Finally, BidaskClub raised Euronet Worldwide from a hold rating to a buy rating in a research note on Monday, July 31st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Euronet Worldwide presently has an average rating of Buy and an average target price of $105.40.
Euronet Worldwide (NASDAQ EEFT) opened at 97.38 on Friday. Euronet Worldwide has a 12 month low of $70.51 and a 12 month high of $99.53. The stock’s 50 day moving average price is $96.53 and its 200 day moving average price is $90.02. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 31.43 and a beta of 1.34.
Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Wednesday, July 26th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Euronet Worldwide had a return on equity of 22.32% and a net margin of 8.23%. The firm had revenue of $536.60 million for the quarter, compared to analysts’ expectations of $513.10 million. During the same period in the previous year, the firm posted $0.97 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Euronet Worldwide will post $4.55 earnings per share for the current fiscal year.
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In other news, Director Andrej Olechowski sold 10,276 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $97.30, for a total transaction of $999,854.80. Following the transaction, the director now owns 14,355 shares of the company’s stock, valued at $1,396,741.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin J. Caponecchi sold 49,238 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $97.67, for a total value of $4,809,075.46. Following the transaction, the chief executive officer now directly owns 79,096 shares in the company, valued at approximately $7,725,306.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,574 shares of company stock worth $29,668,269. Insiders own 7.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. grew its stake in shares of Euronet Worldwide by 8.0% during the second quarter. Wasatch Advisors Inc. now owns 679,962 shares of the business services provider’s stock valued at $59,408,000 after buying an additional 50,205 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Euronet Worldwide by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock valued at $149,000 after buying an additional 116 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Euronet Worldwide by 625.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 172,746 shares of the business services provider’s stock valued at $15,093,000 after buying an additional 148,946 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Euronet Worldwide by 20.4% during the second quarter. Cubist Systematic Strategies LLC now owns 7,144 shares of the business services provider’s stock valued at $624,000 after buying an additional 1,209 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in shares of Euronet Worldwide by 0.5% during the second quarter. Dana Investment Advisors Inc. now owns 29,239 shares of the business services provider’s stock valued at $2,555,000 after buying an additional 156 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.
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.
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