EVERTEC (NYSE:EVTC – Get Rating) announced its quarterly earnings results on Thursday. The business services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04, Briefing.com reports. EVERTEC had a return on equity of 43.09% and a net margin of 27.40%. The firm had revenue of $160.60 million for the quarter, compared to analyst estimates of $150.22 million. During the same period last year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. EVERTEC updated its FY 2022 guidance to $2.52-$2.60 EPS and its FY22 guidance to $2.52-$2.60 EPS.
EVERTEC Stock Down 6.8 %
Shares of NYSE EVTC traded down $2.71 during midday trading on Friday, hitting $36.87. 285,518 shares of the stock traded hands, compared to its average volume of 271,322. The company has a market cap of $2.64 billion, a PE ratio of 16.39 and a beta of 0.91. EVERTEC has a one year low of $33.57 and a one year high of $51.06. The business has a 50 day moving average price of $36.88 and a two-hundred day moving average price of $39.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.95 and a current ratio of 2.95.
EVERTEC Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Monday, August 8th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. EVERTEC’s payout ratio is currently 8.89%.
Institutional Investors Weigh In On EVERTEC
Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its holdings in EVERTEC by 4.5% during the first quarter. Bank of Montreal Can now owns 47,353 shares of the business services provider’s stock worth $1,966,000 after buying an additional 2,028 shares in the last quarter. First Republic Investment Management Inc. boosted its position in EVERTEC by 35.3% in the first quarter. First Republic Investment Management Inc. now owns 45,966 shares of the business services provider’s stock worth $1,881,000 after purchasing an additional 11,997 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in EVERTEC by 32.3% in the first quarter. BNP Paribas Arbitrage SA now owns 39,026 shares of the business services provider’s stock worth $1,597,000 after purchasing an additional 9,536 shares during the last quarter. MetLife Investment Management LLC boosted its position in EVERTEC by 55.1% in the first quarter. MetLife Investment Management LLC now owns 32,586 shares of the business services provider’s stock worth $1,334,000 after purchasing an additional 11,570 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in EVERTEC by 15.9% in the first quarter. HighTower Advisors LLC now owns 28,929 shares of the business services provider’s stock worth $1,183,000 after purchasing an additional 3,976 shares during the last quarter. Institutional investors own 83.26% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on EVERTEC from $50.00 to $47.00 in a research note on Monday, July 11th. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a research note on Saturday, May 7th.
EVERTEC Company Profile
EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.
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