Evertec Inc. (EVTC) Downgraded to Sell at Zacks Investment Research
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 research firms also recently issued reports on EVTC. Deutsche Bank AG boosted their price objective on Evertec from $15.00 to $18.00 and gave the stock a hold rating in a report on Friday, July 29th. Compass Point boosted their price objective on Evertec from $17.00 to $19.00 and gave the stock a buy rating in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $17.40.
Evertec (NYSE:EVTC) opened at 16.65 on Monday. Evertec has a 12 month low of $11.27 and a 12 month high of $19.66. The firm’s 50-day moving average is $16.87 and its 200-day moving average is $15.47. The firm has a market capitalization of $1.24 billion, a PE ratio of 14.54 and a beta of 1.12.
Evertec (NYSE:EVTC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The firm had revenue of $97.70 million for the quarter, compared to the consensus estimate of $93.40 million. Evertec had a return on equity of 118.58% and a net margin of 19.59%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. On average, equities research analysts expect that Evertec will post $1.71 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. purchased a new position in Evertec during the first quarter worth approximately $157,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Evertec by 6.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,630 shares of the company’s stock worth $316,000 after buying an additional 1,330 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Evertec by 39.8% in the first quarter. TIAA CREF Investment Management LLC now owns 518,034 shares of the company’s stock worth $7,242,000 after buying an additional 147,524 shares in the last quarter. Teachers Advisors Inc. increased its position in Evertec by 4.7% in the first quarter. Teachers Advisors Inc. now owns 104,801 shares of the company’s stock worth $1,465,000 after buying an additional 4,742 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Evertec by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,683,066 shares of the company’s stock worth $23,529,000 after buying an additional 6,464 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
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.
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