MoneyGram International Inc. (MGI) Receives “Neutral” Rating from Compass Point
MoneyGram International Inc. (NASDAQ:MGI)‘s stock had its “neutral” rating reaffirmed by investment analysts at Compass Point in a report released on Tuesday. They presently have a $8.00 target price on the stock. Compass Point’s price target points to a potential upside of 14.61% from the stock’s previous close.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research upgraded MoneyGram International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price for the company in a research note on Thursday, July 21st. JPMorgan Chase & Co. lowered MoneyGram International from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, July 12th. Finally, William Blair restated an “outperform” rating on shares of MoneyGram International in a research note on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.17.
MoneyGram International (NASDAQ:MGI) opened at 6.98 on Tuesday. The stock has a 50 day moving average price of $7.12 and a 200-day moving average price of $6.76. The company has a market cap of $373.05 million, a price-to-earnings ratio of 69.80 and a beta of 1.69. MoneyGram International has a 1-year low of $4.68 and a 1-year high of $10.92.
MoneyGram International (NASDAQ:MGI) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.06. The business earned $383.70 million during the quarter, compared to analyst estimates of $389.16 million. MoneyGram International had a negative return on equity of 10.13% and a net margin of 0.43%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS. On average, equities research analysts forecast that MoneyGram International will post $0.78 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in MoneyGram International by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 98,803 shares of the company’s stock worth $677,000 after buying an additional 1,554 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in MoneyGram International during the second quarter worth $149,000. Panagora Asset Management Inc. raised its position in MoneyGram International by 252.8% in the second quarter. Panagora Asset Management Inc. now owns 19,501 shares of the company’s stock worth $134,000 after buying an additional 13,973 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in MoneyGram International by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 177,128 shares of the company’s stock worth $1,213,000 after buying an additional 553 shares during the last quarter. Finally, Menta Capital LLC raised its position in MoneyGram International by 60.1% in the second quarter. Menta Capital LLC now owns 55,608 shares of the company’s stock worth $381,000 after buying an additional 20,869 shares during the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.
MoneyGram International Company Profile
MoneyGram International, Inc is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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