CPI Card Group Inc. (PMTS) Reaches New 1-Year Low on Disappointing Earnings
CPI Card Group Inc. (NASDAQ:PMTS) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $3.33 and last traded at $3.35, with a volume of 1,897,360 shares. The stock had previously closed at $5.05.
The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.04. CPI Card Group had a net margin of 4.94% and a negative return on equity of 24.89%. The company had revenue of $81.20 million for the quarter, compared to the consensus estimate of $85.78 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. CPI Card Group’s revenue was down 24.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 12th. Stockholders of record on Friday, December 16th will be issued a dividend of $0.045 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.18 annualized dividend and a dividend yield of 4.86%. CPI Card Group’s payout ratio is presently 75.00%.
Several equities analysts have recently weighed in on PMTS shares. Zacks Investment Research upgraded CPI Card Group from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Craig Hallum lifted their price objective on CPI Card Group from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Finally, CIBC downgraded CPI Card Group from a “sector perform” rating to a “sector underperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. CPI Card Group presently has a consensus rating of “Hold” and an average target price of $6.95.
A number of hedge funds and other institutional investors have recently made changes to their positions in PMTS. Springbok Capital Management LLC boosted its position in shares of CPI Card Group by 15,375.0% in the first quarter. Springbok Capital Management LLC now owns 61,900 shares of the company’s stock valued at $510,000 after buying an additional 61,500 shares during the last quarter. CIBC World Markets Inc. boosted its position in shares of CPI Card Group by 85.3% in the second quarter. CIBC World Markets Inc. now owns 91,625 shares of the company’s stock valued at $459,000 after buying an additional 42,175 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of CPI Card Group during the second quarter valued at about $1,299,000. Bank of New York Mellon Corp boosted its position in shares of CPI Card Group by 32.4% in the second quarter. Bank of New York Mellon Corp now owns 71,925 shares of the company’s stock valued at $360,000 after buying an additional 17,585 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of CPI Card Group by 19.0% in the second quarter. California State Teachers Retirement System now owns 44,025 shares of the company’s stock valued at $221,000 after buying an additional 7,031 shares during the last quarter. 24.53% of the stock is currently owned by institutional investors and hedge funds.
The stock has a 50-day moving average of $5.61 and a 200 day moving average of $5.30. The stock has a market cap of $204.34 billion and a price-to-earnings ratio of 14.80.
CPI Card Group Company Profile
CPI Card Group Inc, formerly CPI Holdings I, Inc, provides Financial Payment Card solutions in North America. The Company is engaged in the design, production, data personalization, packaging and fulfillment of Financial Payment Cards, which it defines as credit cards, debit cards and prepaid debit cards issued on the networks of the Payment Card Brands in the United States, Europe and Canada.
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