Net 1 UEPS Technologies (UEPS) Announces Earnings Results, Meets Expectations

Net 1 UEPS Technologies (NASDAQ:UEPS) issued its quarterly earnings results on Thursday. The business services provider reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39, Briefing.com reports. The firm had revenue of $148.40 million during the quarter, compared to analysts’ expectations of $148.50 million. Net 1 UEPS Technologies had a net margin of 11.17% and a return on equity of 13.06%. Net 1 UEPS Technologies’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. Net 1 UEPS Technologies updated its FY18 guidance to $1.61 EPS.

Net 1 UEPS Technologies (NASDAQ:UEPS) traded down $0.83 during mid-day trading on Friday, hitting $9.85. 2,103,045 shares of the stock traded hands, compared to its average volume of 587,127. Net 1 UEPS Technologies has a one year low of $8.87 and a one year high of $13.81. The firm has a market cap of $615.96, a PE ratio of 8.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.35 and a quick ratio of 1.33.

In other news, Director Alasdair Jonathan Kemsley Pein sold 6,500 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $11.01, for a total value of $71,565.00. Following the completion of the sale, the director now owns 29,061 shares in the company, valued at approximately $319,961.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edwards sold 9,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $11.36, for a total transaction of $102,240.00. Following the completion of the sale, the director now owns 10,822 shares of the company’s stock, valued at approximately $122,937.92. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in Net 1 UEPS Technologies stock. State Street Corp lifted its stake in Net 1 UEPS Technologies Inc (NASDAQ:UEPS) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,463 shares of the business services provider’s stock after purchasing an additional 13,810 shares during the period. State Street Corp owned approximately 0.17% of Net 1 UEPS Technologies worth $961,000 as of its most recent SEC filing. Institutional investors and hedge funds own 55.94% of the company’s stock.

UEPS has been the subject of a number of recent research reports. TheStreet cut shares of Net 1 UEPS Technologies from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. BidaskClub upgraded shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. ValuEngine cut shares of Net 1 UEPS Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of Net 1 UEPS Technologies from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Sidoti began coverage on shares of Net 1 UEPS Technologies in a research note on Monday, November 20th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.00.

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About Net 1 UEPS Technologies

Net 1 UEPS Technologies, Inc is a provider of payment solutions, transaction processing services and financial technology across multiple industries. The Company develops and markets a transaction processing solution that encompasses its smart card-based alternative payment system for the unbanked and under-banked populations of developing economies and for mobile transaction channels.

Earnings History for Net 1 UEPS Technologies (NASDAQ:UEPS)

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