Zacks: Brokerages Anticipate EVERTEC, Inc. (NYSE:EVTC) Will Announce Earnings of $0.62 Per Share

Wall Street brokerages expect EVERTEC, Inc. (NYSE:EVTC) to report $0.62 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for EVERTEC’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.60. EVERTEC posted earnings of $0.59 per share in the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The business is scheduled to issue its next earnings results on Monday, March 7th.

On average, analysts expect that EVERTEC will report full year earnings of $2.64 per share for the current year, with EPS estimates ranging from $2.62 to $2.66. For the next financial year, analysts forecast that the business will post earnings of $2.78 per share, with EPS estimates ranging from $2.67 to $2.89. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow EVERTEC.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, October 27th. The business services provider reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. EVERTEC had a net margin of 26.78% and a return on equity of 46.79%. The business had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $142.64 million. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis.

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of EVERTEC from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 4th. Susquehanna lifted their price objective on shares of EVERTEC from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, October 28th. Susquehanna Bancshares lifted their price objective on shares of EVERTEC from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, October 28th. Zacks Investment Research cut shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Tuesday, November 2nd. Finally, Raymond James lifted their price objective on shares of EVERTEC from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.40.

EVTC stock traded up $0.36 during midday trading on Friday, reaching $43.28. 171,494 shares of the company were exchanged, compared to its average volume of 313,235. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.64 and a quick ratio of 2.64. The stock’s 50-day simple moving average is $45.43. EVERTEC has a one year low of $33.85 and a one year high of $48.58. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 20.71 and a beta of 0.91.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 3rd. Stockholders of record on Monday, November 1st will be given a $0.05 dividend. The ex-dividend date is Friday, October 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. EVERTEC’s payout ratio is presently 9.57%.

In other news, EVP Luis A. Rodriguez-Gonzalez sold 14,517 shares of the business’s stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $45.36, for a total value of $658,491.12. Following the completion of the sale, the executive vice president now owns 24,415 shares of the company’s stock, valued at $1,107,464.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

A number of hedge funds have recently bought and sold shares of EVTC. Ameriprise Financial Inc. raised its stake in EVERTEC by 5.5% in the first quarter. Ameriprise Financial Inc. now owns 274,959 shares of the business services provider’s stock valued at $10,233,000 after purchasing an additional 14,322 shares in the last quarter. Royal Bank of Canada raised its stake in EVERTEC by 24.0% in the first quarter. Royal Bank of Canada now owns 28,219 shares of the business services provider’s stock valued at $1,051,000 after purchasing an additional 5,470 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in EVERTEC by 472.6% in the first quarter. Schonfeld Strategic Advisors LLC now owns 41,800 shares of the business services provider’s stock valued at $1,556,000 after purchasing an additional 34,500 shares in the last quarter. Jane Street Group LLC acquired a new position in EVERTEC in the first quarter valued at about $614,000. Finally, Holocene Advisors LP acquired a new position in EVERTEC in the first quarter valued at about $1,440,000. 80.33% of the stock is owned by institutional investors and hedge funds.

About EVERTEC

EVERTEC, Inc engages in the provision of transaction services. It operates through the following segments: Payment Services-Puerto Rico and Caribbean, Payment Services-Latin America, Merchant Acquiring, and Business Solutions. The Payment Services segment involves in the authorization, processing, management and recording of automated teller machines (ATM) and point of sales transactions, and ATM management and monitoring.

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Earnings History and Estimates for EVERTEC (NYSE:EVTC)

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