Blackhawk Network Holdings, Inc. (HAWK) Releases Earnings Results, Beats Estimates By $0.07 EPS
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) posted its earnings results on Monday. The credit services provider reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07, RTT News reports. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The firm had revenue of $419.30 million for the quarter, compared to analyst estimates of $439.32 million. During the same quarter in the prior year, the company earned $0.14 EPS. Blackhawk Network Holdings’s revenue was up 16.0% on a year-over-year basis.
Blackhawk Network Holdings (NASDAQ HAWK) traded down 0.90% during midday trading on Wednesday, reaching $44.20. The company’s stock had a trading volume of 1,142,725 shares. Blackhawk Network Holdings has a 1-year low of $31.30 and a 1-year high of $46.70. The company has a 50 day moving average of $43.99 and a 200-day moving average of $42.67. The company’s market capitalization is $2.50 billion.
In related news, SVP David C. Tate sold 18,669 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total value of $800,526.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jerry N. Ulrich sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following the completion of the sale, the chief financial officer now directly owns 63,280 shares of the company’s stock, valued at approximately $2,857,092. The disclosure for this sale can be found here. In the last three months, insiders sold 96,212 shares of company stock valued at $4,298,465. 3.80% of the stock is currently owned by company insiders.
Several research firms recently issued reports on HAWK. Bank of America Corporation increased their target price on Blackhawk Network Holdings from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Zacks Investment Research raised Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, July 25th. Mizuho reissued a “buy” rating and set a $52.00 target price (up previously from $50.00) on shares of Blackhawk Network Holdings in a research note on Saturday, July 22nd. Craig Hallum reissued a “buy” rating and set a $58.00 target price on shares of Blackhawk Network Holdings in a research note on Friday, September 1st. Finally, BidaskClub raised Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Blackhawk Network Holdings has an average rating of “Buy” and an average target price of $46.62.
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Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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