Wall Street analysts expect Evertec Inc (NYSE:EVTC) to announce $111.13 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Evertec’s earnings. The lowest sales estimate is $108.90 million and the highest is $113.01 million. Evertec reported sales of $103.51 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is expected to announce its next earnings report on Tuesday, August 7th.
On average, analysts expect that Evertec will report full year sales of $436.99 million for the current financial year, with estimates ranging from $434.34 million to $442.32 million. For the next fiscal year, analysts expect that the company will report sales of $458.51 million per share, with estimates ranging from $449.29 million to $471.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Evertec.
Evertec (NYSE:EVTC) last announced its earnings results on Tuesday, May 1st. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.16. Evertec had a net margin of 13.23% and a return on equity of 72.62%. The company had revenue of $110.27 million for the quarter, compared to analysts’ expectations of $101.96 million. During the same quarter in the previous year, the company posted $0.45 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis.
Several brokerages have recently weighed in on EVTC. ValuEngine raised shares of Evertec from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research cut shares of Evertec from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. Raymond James began coverage on shares of Evertec in a research report on Friday, June 15th. They set a “market perform” rating on the stock. TheStreet raised shares of Evertec from a “c+” rating to a “b” rating in a research report on Thursday, May 10th. Finally, Morgan Stanley boosted their price target on shares of Evertec from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Evertec currently has a consensus rating of “Hold” and a consensus target price of $18.00.
EVTC traded up $0.10 on Friday, hitting $22.35. 495,737 shares of the company’s stock were exchanged, compared to its average volume of 883,034. Evertec has a fifty-two week low of $12.60 and a fifty-two week high of $22.95. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.09. The stock has a market cap of $1.62 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 3.08 and a beta of 1.20.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Evertec by 99.6% in the first quarter. BlackRock Inc. now owns 7,779,713 shares of the business services provider’s stock valued at $127,198,000 after buying an additional 3,881,373 shares during the last quarter. Pzena Investment Management LLC purchased a new stake in Evertec during the first quarter worth about $25,681,000. Millennium Management LLC increased its stake in Evertec by 22.0% during the first quarter. Millennium Management LLC now owns 1,306,064 shares of the business services provider’s stock worth $21,354,000 after purchasing an additional 235,335 shares during the period. Sapience Investments LLC increased its stake in Evertec by 3.0% during the fourth quarter. Sapience Investments LLC now owns 1,280,870 shares of the business services provider’s stock worth $17,484,000 after purchasing an additional 37,550 shares during the period. Finally, Thrivent Financial For Lutherans increased its stake in Evertec by 8.4% during the fourth quarter. Thrivent Financial For Lutherans now owns 1,171,089 shares of the business services provider’s stock worth $15,985,000 after purchasing an additional 90,805 shares during the period. 83.39% of the stock is currently owned by institutional investors.
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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