Euronet Worldwide (NASDAQ:EEFT) Stock Gets Price Target Reduction from Stephens

Euronet Worldwide (NASDAQ:EEFT) had its target price lowered by Stephens from $71.00 to $63.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Needham & Company LLC lowered their price target on shares of Euronet Worldwide from $90.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday. Wolfe Research dropped their price target on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 25th. Finally, DA Davidson restated a “buy” rating and set a $102.00 target price on shares of Euronet Worldwide in a research note on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.40.

Euronet Worldwide Price Performance

Shares of NASDAQ:EEFT opened at $63.15 on Wednesday. Euronet Worldwide has a 52 week low of $57.48 and a 52 week high of $83.97. The business has a fifty day simple moving average of $66.66 and a 200-day simple moving average of $70.42. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 1.31. The company has a market cap of $2.40 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.50 and a beta of 0.85.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Tuesday, October 27th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.11). Euronet Worldwide had a return on equity of 27.44% and a net margin of 6.41%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $3.62 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts forecast that Euronet Worldwide will post 9.50 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Euronet Worldwide during the 2nd quarter valued at about $244,726,000. Turtle Creek Asset Management Inc. lifted its holdings in shares of Euronet Worldwide by 44.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock worth $122,588,000 after buying an additional 572,194 shares in the last quarter. Reinhart Partners LLC. lifted its holdings in shares of Euronet Worldwide by 9.2% in the second quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider’s stock worth $119,091,000 after buying an additional 136,613 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Euronet Worldwide in the second quarter worth about $98,213,000. Finally, Janus Henderson Group PLC boosted its position in shares of Euronet Worldwide by 3.6% in the first quarter. Janus Henderson Group PLC now owns 1,406,556 shares of the business services provider’s stock valued at $93,353,000 after acquiring an additional 48,990 shares during the period. Institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc is a global provider of electronic payment and transaction-processing services. Founded in 1994 and headquartered in Leawood, Kansas, the company serves financial institutions, retailers, mobile network operators, businesses and consumers through operations in markets around the world.

Euronet operates through three principal business segments: electronic financial transactions, epay and money transfer. Its electronic financial transaction business provides automated teller machine (ATM) services, point-of-sale services, card outsourcing, electronic payment processing and related financial technology solutions.