Evertec Inc. (EVTC) Rating Increased to Buy at Zacks Investment Research
Evertec Inc. (NYSE:EVTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $19.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 15.43% from the company’s current price.
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 issued reports on EVTC. Compass Point boosted their price target on Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG boosted their price target on Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.40.
Evertec (NYSE:EVTC) opened at 16.46 on Wednesday. Evertec has a 12 month low of $11.27 and a 12 month high of $19.66. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 14.38 and a beta of 1.12. The stock’s 50 day moving average price is $16.90 and its 200 day moving average price is $15.40.
Evertec (NYSE:EVTC) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Evertec had a return on equity of 118.58% and a net margin of 19.59%. The business earned $97.70 million during the quarter, compared to analyst estimates of $93.40 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Evertec’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts anticipate that Evertec will post $1.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Tuesday, August 9th were given a $0.10 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.40 annualized dividend and a dividend yield of 2.43%. Evertec’s payout ratio is 40.40%.
Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Evertec during the fourth quarter worth approximately $13,605,000. Renaissance Technologies LLC increased its stake in Evertec by 54.0% in the first quarter. Renaissance Technologies LLC now owns 2,211,100 shares of the company’s stock worth $30,911,000 after buying an additional 775,300 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in Evertec during the first quarter worth approximately $4,446,000. Heartland Advisors Inc. purchased a new stake in Evertec during the second quarter worth approximately $3,885,000. Finally, Vanguard Group Inc. increased its stake in Evertec by 5.6% in the second quarter. Vanguard Group Inc. now owns 4,602,128 shares of the company’s stock worth $71,517,000 after buying an additional 243,865 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Evertec Company Profile
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
Receive News & Stock Ratings for Evertec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evertec Inc. and related stocks with our FREE daily email newsletter.