Euronet Worldwide (NASDAQ:EEFT) Sets New 52-Week Low – Here’s Why

Euronet Worldwide, Inc. (NASDAQ:EEFT)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $62.02 and last traded at $62.6990, with a volume of 431078 shares. The stock had previously closed at $63.54.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EEFT. Wolfe Research decreased their price objective on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating for the company in a research report on Tuesday, August 25th. Weiss Ratings cut Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Needham & Company LLC upped their price objective on Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, DA Davidson restated a “buy” rating and set a $102.00 target price on shares of Euronet Worldwide in a research note on Friday, July 10th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.00.

Euronet Worldwide Stock Performance

The stock has a market cap of $2.43 billion, a PE ratio of 10.02, a P/E/G ratio of 0.51 and a beta of 0.85. The firm’s 50-day moving average is $69.19 and its 200 day moving average is $70.65. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.37 and a current ratio of 1.37.

Euronet Worldwide (NASDAQ:EEFT) last announced its earnings results on Thursday, July 30th. The business services provider reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. During the same quarter in the previous year, the firm earned $2.56 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Euronet Worldwide, Inc. will post 9.5 EPS for the current year.

Institutional Investors Weigh In On Euronet Worldwide

Several large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its holdings in Euronet Worldwide by 16.7% during the second quarter. Sequoia Financial Advisors LLC now owns 7,216 shares of the business services provider’s stock worth $528,000 after purchasing an additional 1,035 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Euronet Worldwide in the 2nd quarter valued at approximately $2,277,000. Integrated Wealth Concepts LLC acquired a new position in Euronet Worldwide during the second quarter worth $75,000. Squarepoint Ops LLC purchased a new position in Euronet Worldwide in the second quarter worth $250,000. Finally, Allworth Financial LP lifted its holdings in Euronet Worldwide by 98.0% in the second quarter. Allworth Financial LP now owns 584 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc (NASDAQ: EEFT) is a global electronic payments and transaction processing company. Headquartered in Leawood, Kansas, the company provides payment and financial technology services to financial institutions, retailers, mobile operators, money transfer providers and consumers.

Euronet operates through three principal business areas: electronic funds transfer processing, epay and money transfer. Its electronic funds transfer services include automated teller machine and point-of-sale processing, electronic payment solutions, outsourced transaction processing and related network services.