Blackhawk Network Holdings Inc. (HAWK) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) released its quarterly earnings results on Tuesday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.07. Blackhawk Network Holdings had a return on equity of 13.30% and a net margin of 1.15%. The company had revenue of $361.60 million for the quarter. During the same period in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Blackhawk Network Holdings updated its FY16 guidance to $2.52-2.71 EPS.
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded down 1.04% during trading on Thursday, hitting $33.25. The stock had a trading volume of 540,987 shares. The stock’s 50-day moving average is $32.65 and its 200-day moving average is $33.27. The stock has a market capitalization of $1.84 billion, a P/E ratio of 87.27 and a beta of 0.56. Blackhawk Network Holdings has a 12-month low of $28.88 and a 12-month high of $48.40.
HAWK has been the subject of several recent analyst reports. Jefferies Group restated a “buy” rating and set a $43.00 target price on shares of Blackhawk Network Holdings in a research note on Monday, October 10th. Zacks Investment Research downgraded Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Bank of America Corp. reiterated a “hold” rating and issued a $36.00 price objective on shares of Blackhawk Network Holdings in a research report on Wednesday, July 20th. Credit Agricole SA upgraded Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $36.00 in a research report on Wednesday, September 21st. They noted that the move was a valuation call. Finally, Wedbush reiterated a “neutral” rating and issued a $30.00 price objective on shares of Blackhawk Network Holdings in a research report on Saturday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.75.
In other Blackhawk Network Holdings news, SVP David C. Tate sold 28,314 shares of the business’s stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $36.42, for a total transaction of $1,031,195.88. Following the transaction, the senior vice president now owns 22,372 shares of the company’s stock, valued at $814,788.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.24% of the company’s stock.
Several large investors have recently modified their holdings of HAWK. Virginia Retirement System purchased a new stake in shares of Blackhawk Network Holdings during the first quarter worth about $477,000. Pacad Investment Ltd. bought a new stake in shares of Blackhawk Network Holdings during the first quarter valued at about $362,000. Prudential Financial Inc. boosted its stake in shares of Blackhawk Network Holdings by 106.8% in the first quarter. Prudential Financial Inc. now owns 16,501 shares of the company’s stock valued at $566,000 after buying an additional 8,521 shares during the period. BlackRock Inc. boosted its stake in shares of Blackhawk Network Holdings by 56.8% in the first quarter. BlackRock Inc. now owns 37,160 shares of the company’s stock valued at $1,275,000 after buying an additional 13,467 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Blackhawk Network Holdings by 35.3% in the first quarter. BlackRock Group LTD now owns 97,040 shares of the company’s stock valued at $3,329,000 after buying an additional 25,309 shares during the period. Institutional investors own 92.15% of the company’s stock.
Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.
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