Brokers Issue Forecasts for Ebix Inc.’s FY2016 Earnings (EBIX)
Ebix Inc. (NASDAQ:EBIX) – Stock analysts at Craig Hallum boosted their FY2016 EPS estimates for Ebix in a research report issued on Wednesday. Craig Hallum analyst J. Van. Rhee now forecasts that the brokerage will post earnings per share of $2.83 for the year, up from their previous forecast of $2.70. Craig Hallum also issued estimates for Ebix’s Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.72 EPS, Q3 2017 earnings at $0.74 EPS, Q4 2017 earnings at $0.76 EPS and FY2017 earnings at $2.90 EPS.
Separately, Zacks Investment Research upgraded Ebix from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Thursday, August 11th.
Shares of Ebix (NASDAQ:EBIX) opened at 60.00 on Friday. Ebix has a 52 week low of $28.28 and a 52 week high of $60.00. The stock has a 50 day moving average price of $56.43 and a 200 day moving average price of $52.52. The firm has a market capitalization of $1.95 billion, a PE ratio of 21.80 and a beta of 1.75.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The business had revenue of $74.60 million for the quarter, compared to analysts’ expectations of $73 million. Ebix had a return on equity of 21.72% and a net margin of 31.60%.
A number of hedge funds and other institutional investors have recently modified their holdings of EBIX. Goldman Sachs Group Inc. increased its position in shares of Ebix by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 70,440 shares of the company’s stock valued at $2,873,000 after buying an additional 5,370 shares during the period. BlackRock Group LTD increased its position in shares of Ebix by 5.2% in the first quarter. BlackRock Group LTD now owns 45,673 shares of the company’s stock valued at $1,863,000 after buying an additional 2,266 shares during the period. Bank of Montreal Can acquired a new position in shares of Ebix during the second quarter valued at $127,000. Ameriprise Financial Inc. increased its position in shares of Ebix by 99.5% in the second quarter. Ameriprise Financial Inc. now owns 441,507 shares of the company’s stock valued at $21,149,000 after buying an additional 220,214 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Ebix by 1.7% in the second quarter. Principal Financial Group Inc. now owns 186,119 shares of the company’s stock valued at $8,915,000 after buying an additional 3,070 shares during the period. Institutional investors own 68.95% of the company’s stock.
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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