CardConnect Corp. (CCN) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS
CardConnect Corp. (NYSE:CCN) released its quarterly earnings results on Thursday. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.09. The firm had revenue of $154 million for the quarter, compared to analyst estimates of $153.70 million.
CardConnect Corp. (NYSE:CCN) opened at 10.00 on Monday. CardConnect Corp. has a 1-year low of $8.14 and a 1-year high of $11.56. The company has a market cap of $86.10 million and a price-to-earnings ratio of 22.37. The firm’s 50-day moving average price is $9.39 and its 200-day moving average price is $9.85.
A number of research firms have commented on CCN. Piper Jaffray Cos. began coverage on CardConnect Corp. in a research note on Friday, August 12th. They set an “overweight” rating and a $14.00 price objective on the stock. Cantor Fitzgerald set a $12.00 price objective on CardConnect Corp. and gave the stock a “buy” rating in a research note on Friday. Finally, BTIG Research restated a “buy” rating and set a $14.00 price objective on shares of CardConnect Corp. in a research note on Sunday.
An institutional investor recently bought a new position in CardConnect Corp. stock. TimesSquare Capital Management LLC bought a new stake in shares of CardConnect Corp. (NYSE:CCN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,297,700 shares of the company’s stock, valued at approximately $12,679,000. TimesSquare Capital Management LLC owned about 15.07% of CardConnect Corp. as of its most recent SEC filing.
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