Zacks Investment Research downgraded shares of Evertec (NYSE:EVTC) from a hold rating to a strong sell rating in a report issued on Monday.
According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “
Several other analysts have also recently commented on EVTC. ValuEngine cut Evertec from a buy rating to a hold rating in a report on Tuesday, September 26th. Stifel Nicolaus upgraded Evertec from a hold rating to a buy rating and set a $18.00 price target for the company in a report on Thursday, September 28th. BidaskClub cut Evertec from a hold rating to a sell rating in a report on Thursday, September 28th. Cowen restated a hold rating and issued a $20.00 price target on shares of Evertec in a report on Thursday, October 12th. Finally, Morgan Stanley lowered their price target on Evertec from $18.00 to $17.00 and set an equal weight rating for the company in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $17.83.
Evertec (NYSE EVTC) traded down $0.15 on Monday, reaching $14.05. The company’s stock had a trading volume of 666,553 shares, compared to its average volume of 599,919. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.08. The stock has a market cap of $1,038.80, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. Evertec has a 52 week low of $12.60 and a 52 week high of $19.52.
Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.08). The business had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $97.11 million. Evertec had a net margin of 15.92% and a return on equity of 95.54%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. equities research analysts predict that Evertec will post 1.35 EPS for the current year.
Several large investors have recently modified their holdings of EVTC. BNP Paribas Arbitrage SA grew its holdings in shares of Evertec by 497.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock worth $122,000 after purchasing an additional 5,880 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Evertec during the 3rd quarter worth about $146,000. Koch Industries Inc. grew its holdings in shares of Evertec by 1,753.1% during the 2nd quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock worth $186,000 after purchasing an additional 186,264 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Evertec during the 3rd quarter worth about $187,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Evertec during the 3rd quarter worth about $189,000. Institutional investors and hedge funds own 79.34% of the company’s stock.
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Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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