Evertec (EVTC) Updates FY19 Earnings Guidance

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Evertec (NYSE:EVTC) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.80-$1.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.96. The company issued revenue guidance of $464-$476 million, compared to the consensus revenue estimate of $473.44 million.Evertec also updated its FY 2019 guidance to $1.80-1.90 EPS.

EVTC traded down $2.32 on Thursday, hitting $28.33. The company had a trading volume of 2,767,293 shares, compared to its average volume of 620,414. Evertec has a 1-year low of $15.85 and a 1-year high of $31.10. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $2.21 billion, a P/E ratio of 19.27 and a beta of 0.65.

Evertec (NYSE:EVTC) last posted its earnings results on Wednesday, February 20th. The business services provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The firm had revenue of $118.20 million during the quarter, compared to analyst estimates of $114.72 million. During the same period in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, analysts anticipate that Evertec will post 1.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, February 26th will be issued a $0.05 dividend. The ex-dividend date is Monday, February 25th. This represents a $0.20 annualized dividend and a yield of 0.71%. Evertec’s dividend payout ratio (DPR) is currently 13.61%.

EVTC has been the subject of several analyst reports. Raymond James upgraded Evertec from a market perform rating to an outperform rating in a report on Wednesday, October 31st. Zacks Investment Research upgraded Evertec from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Friday, November 2nd. Finally, Keefe, Bruyette & Woods initiated coverage on Evertec in a report on Thursday, December 6th. They issued an outperform rating and a $32.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $26.14.

In other news, COO Philip E. Steurer sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $26.27, for a total transaction of $656,750.00. Following the sale, the chief operating officer now directly owns 152,202 shares in the company, valued at $3,998,346.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carlos J. Ramirez sold 44,378 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $26.34, for a total value of $1,168,916.52. Following the sale, the insider now owns 67,409 shares in the company, valued at $1,775,553.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,278 shares of company stock worth $2,997,283. Company insiders own 0.76% of the company’s stock.

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Evertec Company Profile

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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