Keefe, Bruyette & Woods Issues Pessimistic Forecast for Evertec (NYSE:EVTC) Stock Price

Evertec (NYSE:EVTC) had its price target lowered by analysts at Keefe, Bruyette & Woods from $44.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 48.82% from the company’s previous close.

Several other analysts have also weighed in on EVTC. Deutsche Bank Aktiengesellschaft assumed coverage on Evertec in a report on Thursday, July 17th. They issued a “hold” rating and a $35.00 target price on the stock. Morgan Stanley dropped their target price on shares of Evertec from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Zacks Research cut shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Raymond James Financial reiterated an “outperform” rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Evertec in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.80.

Evertec Price Performance

Shares of NYSE:EVTC traded down $0.42 on Monday, reaching $26.88. 151,999 shares of the company were exchanged, compared to its average volume of 333,465. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec has a 1-year low of $26.73 and a 1-year high of $38.56. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. The company has a 50-day moving average of $31.99 and a 200-day moving average of $34.40.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The firm had revenue of $227.93 million for the quarter, compared to the consensus estimate of $224.68 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. Equities analysts forecast that Evertec will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in shares of Evertec during the second quarter worth about $26,000. Richardson Financial Services Inc. raised its stake in Evertec by 132.6% during the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after buying an additional 435 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Evertec by 479.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after acquiring an additional 1,121 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Evertec by 40.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,796 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 517 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Evertec by 28.6% during the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock worth $71,000 after purchasing an additional 436 shares during the period. 96.80% of the stock is owned by institutional investors and hedge funds.

About Evertec

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.