Moneygram International (MGI) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Moneygram International (NASDAQ:MGI) released its quarterly earnings results on Friday. The financial services provider reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.08, MarketWatch Earnings reports. The company had revenue of $347.20 million for the quarter, compared to analysts’ expectations of $378.73 million. Moneygram International had a negative return on equity of 8.32% and a negative net margin of 2.27%. Moneygram International’s revenue for the quarter was up 14.1% on a year-over-year basis. Moneygram International updated its FY 2018 guidance to EPS.

Moneygram International stock opened at $2.27 on Friday. The company has a market capitalization of $243.56 million, a P/E ratio of 2.58 and a beta of 2.02. Moneygram International has a one year low of $2.23 and a one year high of $15.05.

Several analysts have recently weighed in on the company. Evercore ISI cut Moneygram International from an “in-line” rating to an “underperform” rating in a report on Friday. Zacks Investment Research cut Moneygram International from a “buy” rating to a “hold” rating in a report on Monday, October 8th. BidaskClub cut Moneygram International from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 26th. Finally, Morgan Stanley cut their price objective on Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Monday, August 6th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Moneygram International currently has a consensus rating of “Sell” and an average target price of $6.63.

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Moneygram International Company Profile

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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Earnings History for Moneygram International (NASDAQ:MGI)

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