Brokerages forecast that Moneygram International Inc (NASDAQ:MGI) will report $380.75 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Moneygram International’s earnings, with the highest sales estimate coming in at $386.00 million and the lowest estimate coming in at $370.40 million. Moneygram International reported sales of $397.80 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Moneygram International will report full year sales of $1.53 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.54 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.56 billion, with estimates ranging from $1.54 billion to $1.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Moneygram International.
Moneygram International (NASDAQ:MGI) last announced its quarterly earnings data on Friday, August 3rd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $374.60 million for the quarter, compared to the consensus estimate of $387.37 million. Moneygram International had a negative return on equity of 8.32% and a negative net margin of 2.27%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS.
A number of analysts recently commented on MGI shares. BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised Moneygram International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Morgan Stanley decreased their target price on Moneygram International from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Moneygram International currently has an average rating of “Hold” and a consensus target price of $6.63.
Shares of NASDAQ:MGI opened at $5.45 on Friday. The stock has a market capitalization of $315.29 million, a PE ratio of 6.20 and a beta of 1.93. The company has a debt-to-equity ratio of -2.15, a quick ratio of 0.05 and a current ratio of 0.05. Moneygram International has a 1 year low of $5.44 and a 1 year high of $16.27.
A number of institutional investors have recently modified their holdings of MGI. Millennium Management LLC increased its position in Moneygram International by 7,437.8% in the 1st quarter. Millennium Management LLC now owns 1,467,158 shares of the financial services provider’s stock valued at $12,647,000 after buying an additional 1,447,694 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Moneygram International by 38.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,206,502 shares of the financial services provider’s stock valued at $10,400,000 after buying an additional 334,658 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Moneygram International by 1,349.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 341,088 shares of the financial services provider’s stock worth $2,282,000 after purchasing an additional 317,555 shares in the last quarter. Gabelli Funds LLC increased its holdings in Moneygram International by 126.9% during the 2nd quarter. Gabelli Funds LLC now owns 541,146 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 302,614 shares in the last quarter. Finally, Brookfield Asset Management Inc. bought a new stake in Moneygram International during the 1st quarter worth approximately $1,940,000. 86.07% of the stock is owned by institutional investors and hedge funds.
About Moneygram International
MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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