MoneyGram International Inc. (MGI) Receives $8.00 Average PT from Brokerages
Shares of MoneyGram International Inc. (NASDAQ:MGI) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $8.00.
Several equities analysts have commented on MGI shares. Compass Point reiterated a “neutral” rating and issued a $8.00 price target on shares of MoneyGram International in a research note on Tuesday, October 11th. Feltl & Co. lowered shares of MoneyGram International from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 21st. Zacks Investment Research upgraded shares of MoneyGram International from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, November 2nd. Finally, TheStreet upgraded shares of MoneyGram International from a “sell” rating to a “hold” rating in a research report on Friday, October 28th.
Several large investors have recently modified their holdings of MGI. LSV Asset Management increased its stake in shares of MoneyGram International by 59.3% in the third quarter. LSV Asset Management now owns 909,623 shares of the company’s stock valued at $6,458,000 after buying an additional 338,448 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of MoneyGram International during the second quarter valued at $1,144,000. Zacks Investment Management bought a new stake in shares of MoneyGram International during the third quarter valued at $774,000. Royce & Associates LP increased its stake in shares of MoneyGram International by 98.0% in the second quarter. Royce & Associates LP now owns 196,403 shares of the company’s stock valued at $1,345,000 after buying an additional 97,200 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of MoneyGram International by 4.6% in the second quarter. Neuberger Berman Group LLC now owns 1,749,815 shares of the company’s stock valued at $11,986,000 after buying an additional 76,632 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.
MoneyGram International (NASDAQ:MGI) opened at 10.87 on Friday. The firm has a market capitalization of $577.60 million, a PE ratio of 60.39 and a beta of 1.77. MoneyGram International has a 1-year low of $4.68 and a 1-year high of $11.03. The company has a 50 day moving average of $7.99 and a 200 day moving average of $7.21.
MoneyGram International (NASDAQ:MGI) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $383.10 million for the quarter, compared to analyst estimates of $389.53 million. MoneyGram International had a net margin of 0.78% and a negative return on equity of 11.22%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. Analysts forecast that MoneyGram International will post $0.81 EPS for the current year.
About MoneyGram International
MoneyGram International, Inc is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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