SunTrust Banks Inc. initiated coverage on shares of Euronet Worldwide Inc. (NASDAQ:EEFT) in a report issued on Wednesday morning. The firm issued a buy rating and a $98.00 target price on the stock.

Separately, Zacks Investment Research cut Euronet Worldwide from a buy rating to a hold rating in a research note on Tuesday, September 27th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $88.14.

Euronet Worldwide (NASDAQ:EEFT) traded down 1.55% during midday trading on Wednesday, reaching $82.53. 34,419 shares of the company’s stock were exchanged. Euronet Worldwide has a 12 month low of $52.00 and a 12 month high of $84.43. The company has a 50 day moving average price of $80.11 and a 200 day moving average price of $76.67. The company has a market cap of $4.30 billion, a P/E ratio of 29.99 and a beta of 1.49.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Euronet Worldwide had a return on equity of 22.65% and a net margin of 8.01%. The firm earned $476.90 million during the quarter, compared to the consensus estimate of $470.99 million. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s revenue was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that Euronet Worldwide will post $4.07 EPS for the current year.

In other news, VP Jeffrey B. Newman sold 5,772 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $77.80, for a total transaction of $449,061.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin J. Caponecchi sold 58,573 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $75.52, for a total value of $4,423,432.96. The disclosure for this sale can be found here. Company insiders own 7.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Euronet Worldwide by 18.2% in the second quarter. FMR LLC now owns 3,522,098 shares of the company’s stock valued at $243,694,000 after buying an additional 543,134 shares during the period. Oak Ridge Investments LLC bought a new stake in Euronet Worldwide during the second quarter valued at about $31,130,000. Fiera Capital Corp bought a new stake in Euronet Worldwide during the second quarter valued at about $24,582,000. Adage Capital Partners GP L.L.C. bought a new stake in Euronet Worldwide during the first quarter valued at about $25,939,000. Finally, Teachers Advisors Inc. raised its stake in Euronet Worldwide by 247.8% in the first quarter. Teachers Advisors Inc. now owns 261,758 shares of the company’s stock valued at $19,399,000 after buying an additional 186,489 shares during the period. 89.92% of the stock is currently owned by institutional investors.

About Euronet Worldwide

Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.

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