Equities analysts expect MoneyGram International, Inc. (NASDAQ:MGI) to report $300.25 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for MoneyGram International’s earnings. The lowest sales estimate is $300.00 million and the highest is $300.74 million. MoneyGram International posted sales of $290.90 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The company is expected to issue its next quarterly earnings report on Friday, May 7th.
On average, analysts expect that MoneyGram International will report full-year sales of $1.27 billion for the current year, with estimates ranging from $1.24 billion to $1.29 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.31 billion, with estimates ranging from $1.28 billion to $1.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MoneyGram International.
MoneyGram International (NASDAQ:MGI) last released its quarterly earnings results on Sunday, February 21st. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. The company had revenue of $323.30 million during the quarter, compared to the consensus estimate of $326.57 million. MoneyGram International had a negative net margin of 2.23% and a negative return on equity of 1.48%.
A number of brokerages have weighed in on MGI. Barclays upped their price objective on shares of MoneyGram International from $4.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, February 25th. Northland Securities restated a “buy” rating and issued a $9.50 price objective on shares of MoneyGram International in a report on Wednesday, February 24th.
MGI traded down $0.30 during midday trading on Monday, reaching $6.99. The company’s stock had a trading volume of 34,085 shares, compared to its average volume of 3,428,527. The firm has a market capitalization of $542.27 million, a price-to-earnings ratio of -19.18 and a beta of 1.95. MoneyGram International has a 1 year low of $1.21 and a 1 year high of $11.70. The stock’s 50-day moving average is $7.34 and its 200-day moving average is $6.31.
Several large investors have recently bought and sold shares of the company. Epstein & White Financial LLC lifted its position in MoneyGram International by 23.1% during the fourth quarter. Epstein & White Financial LLC now owns 16,000 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 3,000 shares during the period. Raymond James & Associates lifted its position in MoneyGram International by 24.1% during the third quarter. Raymond James & Associates now owns 25,760 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 5,000 shares during the period. New York State Teachers Retirement System bought a new position in MoneyGram International during the fourth quarter valued at approximately $28,000. California Public Employees Retirement System lifted its position in MoneyGram International by 4.9% during the third quarter. California Public Employees Retirement System now owns 131,600 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 6,100 shares during the period. Finally, Equitable Holdings Inc. lifted its position in MoneyGram International by 27.3% during the third quarter. Equitable Holdings Inc. now owns 35,000 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 7,500 shares during the period. Hedge funds and other institutional investors own 36.01% of the company’s stock.
MoneyGram International Company Profile
MoneyGram International, Inc, together with its subsidiaries, provides cross-border peer-to-peer payments and 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 through third-party agents, including retail chains, independent retailers, post offices, banks, and other financial institutions; and digital solutions, such as moneygram.com, mobile solutions, digital partners, wallets, and account deposit services.
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