Euronet Worldwide (EEFT) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a sell rating to a hold rating in a report released on Saturday morning.

Several other equities analysts also recently commented on EEFT. Zacks Investment Research upgraded Euronet Worldwide from a hold rating to a buy rating and set a $106.00 price objective on the stock in a research report on Tuesday, September 26th. Northland Securities restated a buy rating and issued a $110.00 price objective on shares of Euronet Worldwide in a research report on Thursday, October 19th. Piper Jaffray Companies restated a buy rating and issued a $112.00 price objective on shares of Euronet Worldwide in a research report on Sunday, October 22nd. SunTrust Banks restated a buy rating and issued a $120.00 price objective on shares of Euronet Worldwide in a research report on Friday, October 6th. Finally, Goldman Sachs Group began coverage on Euronet Worldwide in a research report on Thursday, December 14th. They issued a buy rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Euronet Worldwide currently has a consensus rating of Buy and an average target price of $108.86.

Euronet Worldwide (NASDAQ:EEFT) opened at $95.18 on Friday. Euronet Worldwide has a 52-week low of $70.51 and a 52-week high of $101.07. The company has a market capitalization of $5,004.70, a PE ratio of 25.18, a PEG ratio of 1.25 and a beta of 1.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.48 and a quick ratio of 1.44.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Thursday, October 19th. The business services provider reported $1.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.61. Euronet Worldwide had a return on equity of 22.46% and a net margin of 9.63%. The business had revenue of $637.90 million for the quarter, compared to the consensus estimate of $595.09 million. During the same period in the previous year, the business earned $1.35 earnings per share. The business’s revenue was up 21.7% on a year-over-year basis. sell-side analysts predict that Euronet Worldwide will post 4.33 EPS for the current fiscal year.

In other news, CEO Michael J. Brown sold 63,538 shares of Euronet Worldwide stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $100.06, for a total value of $6,357,612.28. Following the sale, the chief executive officer now directly owns 1,603,486 shares of the company’s stock, valued at $160,444,809.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Brown sold 2,400 shares of Euronet Worldwide stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $100.00, for a total value of $240,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,603,486 shares in the company, valued at $160,348,600. The disclosure for this sale can be found here. Insiders sold 94,235 shares of company stock worth $9,201,216 over the last ninety days. Insiders own 7.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its holdings in shares of Euronet Worldwide by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 64,547 shares of the business services provider’s stock worth $5,639,000 after purchasing an additional 2,361 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Euronet Worldwide by 2.9% in the third quarter. California Public Employees Retirement System now owns 92,373 shares of the business services provider’s stock worth $8,756,000 after purchasing an additional 2,573 shares during the last quarter. Magnetar Financial LLC increased its holdings in shares of Euronet Worldwide by 514.3% in the third quarter. Magnetar Financial LLC now owns 15,326 shares of the business services provider’s stock worth $1,453,000 after purchasing an additional 12,831 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Euronet Worldwide by 2.1% in the third quarter. Public Employees Retirement System of Ohio now owns 180,924 shares of the business services provider’s stock worth $17,150,000 after purchasing an additional 3,712 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Euronet Worldwide by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 11,995 shares of the business services provider’s stock worth $1,137,000 after purchasing an additional 1,060 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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About Euronet Worldwide

Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.

Analyst Recommendations for Euronet Worldwide (NASDAQ:EEFT)

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