Moneygram International (NASDAQ:MGI) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS
Moneygram International (NASDAQ:MGI) announced its quarterly earnings results on Thursday. The financial services provider reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.14, Fidelity Earnings reports. The business had revenue of $279.80 million during the quarter.
MGI stock traded down $0.31 during mid-day trading on Friday, reaching $3.48. The company had a trading volume of 5,025,971 shares, compared to its average volume of 1,664,394. The company has a market capitalization of $220.77 million, a price-to-earnings ratio of -3.66 and a beta of 2.60. The firm has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $2.29. Moneygram International has a fifty-two week low of $1.15 and a fifty-two week high of $6.70.
Several research firms recently issued reports on MGI. Barclays decreased their target price on Moneygram International from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Monday, April 6th. Zacks Investment Research raised Moneygram International from a “sell” rating to a “hold” rating and set a $3.00 target price on the stock in a research note on Friday, July 24th. Finally, ValuEngine raised Moneygram International from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Moneygram International has a consensus rating of “Hold” and a consensus target price of $1.67.
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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