Brokerages Anticipate Euronet Worldwide, Inc. (NASDAQ:EEFT) Will Post Quarterly Sales of $821.83 Million
Brokerages expect that Euronet Worldwide, Inc. (NASDAQ:EEFT) will report sales of $821.83 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Euronet Worldwide’s earnings, with the lowest sales estimate coming in at $802.90 million and the highest estimate coming in at $848.00 million. Euronet Worldwide reported sales of $714.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15%. The company is expected to report its next quarterly earnings results on Thursday, October 17th.
On average, analysts expect that Euronet Worldwide will report full-year sales of $2.82 billion for the current fiscal year, with estimates ranging from $2.80 billion to $2.85 billion. For the next year, analysts anticipate that the company will post sales of $3.13 billion, with estimates ranging from $3.06 billion to $3.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Euronet Worldwide.
Several analysts have issued reports on the company. DA Davidson lowered Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 target price on the stock. in a research note on Thursday, June 13th. They noted that the move was a valuation call. Wolfe Research assumed coverage on Euronet Worldwide in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $200.00 target price on the stock. Citigroup set a $189.00 target price on Euronet Worldwide and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, BidaskClub lowered Euronet Worldwide from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $165.40.
Several large investors have recently added to or reduced their stakes in EEFT. Invesco Ltd. raised its stake in shares of Euronet Worldwide by 211.1% during the 2nd quarter. Invesco Ltd. now owns 936,781 shares of the business services provider’s stock valued at $157,603,000 after purchasing an additional 635,710 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Euronet Worldwide during the 2nd quarter valued at $84,681,000. Vanguard Group Inc. raised its stake in shares of Euronet Worldwide by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,799,013 shares of the business services provider’s stock valued at $807,386,000 after purchasing an additional 223,005 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of Euronet Worldwide by 1,147.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 227,034 shares of the business services provider’s stock valued at $32,373,000 after purchasing an additional 208,833 shares during the period. Finally, Columbus Circle Investors raised its stake in shares of Euronet Worldwide by 194.1% during the 1st quarter. Columbus Circle Investors now owns 283,292 shares of the business services provider’s stock valued at $40,395,000 after purchasing an additional 186,971 shares during the period. Institutional investors own 93.70% of the company’s stock.
EEFT stock traded down $0.48 during midday trading on Monday, hitting $153.55. The company’s stock had a trading volume of 561 shares, compared to its average volume of 514,864. The stock’s 50-day moving average price is $159.33 and its 200 day moving average price is $149.05. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.96. Euronet Worldwide has a 1 year low of $91.78 and a 1 year high of $171.25. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.71 and a beta of 1.16.
About Euronet Worldwide
Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.
Further Reading: How interest rates affect municipal bond prices
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Euronet Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euronet Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.