Evertec (NYSE:EVTC) was downgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Wednesday. They presently have a $12.00 target price on the business services provider’s stock, down from their prior target price of $15.00. Goldman Sachs Group’s target price indicates a potential downside of 14.89% from the stock’s previous close.
EVTC has been the topic of several other research reports. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, October 3rd. ValuEngine raised shares of Evertec from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Stifel Nicolaus raised shares of Evertec from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, September 28th. Deutsche Bank decreased their price target on shares of Evertec from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 8th. Finally, TheStreet cut shares of Evertec from a “b-” rating to a “c+” rating in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.67.
Shares of Evertec (NYSE:EVTC) opened at $14.10 on Wednesday. The stock has a market capitalization of $1,024.32, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 2.10 and a beta of 1.14. Evertec has a 12-month low of $12.60 and a 12-month high of $19.52. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 4.08.
Evertec (NYSE:EVTC) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.08). The firm had revenue of $102.70 million during the quarter, compared to the consensus estimate of $97.11 million. Evertec had a return on equity of 95.54% and a net margin of 15.92%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. sell-side analysts forecast that Evertec will post 1.35 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its stake in Evertec by 497.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 5,880 shares during the last quarter. SG Americas Securities LLC bought a new position in Evertec in the third quarter valued at $146,000. Boothbay Fund Management LLC bought a new position in Evertec in the third quarter valued at $187,000. Fox Run Management L.L.C. bought a new position in Evertec in the third quarter valued at $189,000. Finally, Quantbot Technologies LP bought a new position in Evertec in the third quarter valued at $244,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.
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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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