Euronet Worldwide (NASDAQ:EEFT) Stock Rated Equal Weight in New Coverage at Stephens

Stephens assumed coverage on shares of Euronet Worldwide (NASDAQ:EEFT) in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $71.00 target price on the business services provider’s stock.

Several other research firms have also recently weighed in 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 report on Tuesday, August 25th. DA Davidson restated a “buy” rating and issued a $102.00 target price on shares of Euronet Worldwide in a report on Friday, July 10th. Needham & Company LLC lifted their target price on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings downgraded shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.60.

Euronet Worldwide Price Performance

NASDAQ EEFT opened at $65.00 on Friday. Euronet Worldwide has a one year low of $61.62 and a one year high of $89.44. The stock has a 50-day moving average of $68.11 and a 200 day moving average of $70.54. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.53 and a beta of 0.85. 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 posted its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.56 EPS. On average, sell-side analysts forecast that Euronet Worldwide will post 9.50 EPS for the current year.

Institutional Investors Weigh In On Euronet Worldwide

A number of large investors have recently made changes to their positions in EEFT. PenderFund Capital Management Ltd. bought a new position in shares of Euronet Worldwide in the 2nd quarter worth approximately $42,000. Allworth Financial LP purchased a new position in shares of Euronet Worldwide in the second quarter worth approximately $43,000. Parallel Advisors LLC boosted its holdings in shares of Euronet Worldwide by 23.6% in the first quarter. Parallel Advisors LLC now owns 775 shares of the business services provider’s stock worth $51,000 after buying an additional 148 shares during the last quarter. State of Wyoming bought a new stake in Euronet Worldwide during the second quarter valued at approximately $73,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Euronet Worldwide during the second quarter valued at approximately $75,000. 91.60% of the stock is currently owned by institutional investors.

About Euronet Worldwide

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.