Evertec (EVTC) Issues FY18 Earnings Guidance

Evertec (NYSE:EVTC) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.79-1.83 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.77. The company issued revenue guidance of $448-452 million, compared to the consensus revenue estimate of $443.92 million.

Evertec stock traded up $3.56 during midday trading on Wednesday, reaching $26.06. The company’s stock had a trading volume of 52,981 shares, compared to its average volume of 431,057. Evertec has a fifty-two week low of $12.60 and a fifty-two week high of $26.43. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $1.74 billion, a PE ratio of 17.56 and a beta of 1.27.

Evertec (NYSE:EVTC) last posted its earnings results on Tuesday, October 30th. The business services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. Evertec had a return on equity of 64.95% and a net margin of 12.91%. The business had revenue of $112.02 million for the quarter, compared to analysts’ expectations of $108.94 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts expect that Evertec will post 1.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 5th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, November 2nd. Evertec’s dividend payout ratio is currently 13.61%.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Evertec from a hold rating to a strong-buy rating and set a $28.00 price target on the stock in a report on Thursday, July 26th. Deutsche Bank raised their price target on Evertec from $20.00 to $25.00 and gave the stock a hold rating in a report on Wednesday, August 1st. Morgan Stanley raised their price target on Evertec from $23.00 to $25.00 and gave the stock an equal weight rating in a report on Wednesday, August 1st. Finally, Raymond James raised Evertec from a market perform rating to an outperform rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $21.33.

In related news, COO Philip E. Steurer sold 10,000 shares of Evertec stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $24.39, for a total transaction of $243,900.00. Following the completion of the transaction, the chief operating officer now directly owns 123,930 shares in the company, valued at approximately $3,022,652.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of Evertec stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $23.55, for a total value of $35,325.00. Following the transaction, the insider now owns 24,915 shares of the company’s stock, valued at $586,748.25. The disclosure for this sale can be found here. Insiders have sold a total of 73,500 shares of company stock valued at $1,759,985 over the last 90 days. Insiders own 0.76% of the company’s stock.

Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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