Evertec Inc. (EVTC) Given Average Recommendation of “Hold” by Brokerages
Shares of Evertec Inc. (NYSE:EVTC) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $17.00.
Several research analysts have issued reports on EVTC shares. Compass Point increased their target price on shares of Evertec from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, August 2nd. Finally, Deutsche Bank AG increased their target price on shares of Evertec from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, July 29th.
Evertec (NYSE:EVTC) traded down 0.789% on Friday, hitting $15.725. 225,950 shares of the stock traded hands. The firm has a 50-day moving average price of $15.59 and a 200-day moving average price of $15.85. Evertec has a 12 month low of $11.27 and a 12 month high of $17.66. The company has a market capitalization of $1.16 billion, a PE ratio of 14.547 and a beta of 1.17.
Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, November 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Evertec had a net margin of 21.14% and a return on equity of 120.29%. The company had revenue of $94.47 million for the quarter, compared to analysts’ expectations of $95.29 million. During the same period in the prior year, the business earned $0.39 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts forecast that Evertec will post $1.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Wednesday, November 9th. Evertec’s dividend payout ratio is currently 37.04%.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Evertec by 54.0% in the first quarter. Renaissance Technologies LLC now owns 2,211,100 shares of the company’s stock valued at $30,911,000 after buying an additional 775,300 shares during the last quarter. Heartland Advisors Inc. bought a new position in shares of Evertec during the second quarter valued at approximately $3,885,000. Vanguard Group Inc. raised its position in shares of Evertec by 5.6% in the second quarter. Vanguard Group Inc. now owns 4,602,128 shares of the company’s stock valued at $71,517,000 after buying an additional 243,865 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Evertec during the second quarter valued at approximately $3,229,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Evertec by 65.5% in the second quarter. PNC Financial Services Group Inc. now owns 372,244 shares of the company’s stock valued at $5,784,000 after buying an additional 147,301 shares during the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.
Evertec Company Profile
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
Receive News & Stock Ratings for Evertec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evertec Inc. and related stocks with our FREE daily email newsletter.