Moneygram International Inc (MGI) Given Average Rating of “Sell” by Analysts

Moneygram International Inc (NASDAQ:MGI) has received a consensus rating of “Sell” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.50.

Several research analysts have issued reports on MGI shares. BidaskClub lowered shares of Moneygram International from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 4th. Morgan Stanley decreased their price target on shares of Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Monday, August 6th. Finally, Zacks Investment Research upgraded shares of Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Friday, August 10th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P purchased a new position in Moneygram International during the 2nd quarter worth approximately $203,000. Russell Investments Group Ltd. purchased a new position in Moneygram International during the 1st quarter worth approximately $270,000. Fox Run Management L.L.C. purchased a new position in Moneygram International during the 2nd quarter worth approximately $285,000. Cubist Systematic Strategies LLC purchased a new position in Moneygram International during the 1st quarter worth approximately $380,000. Finally, NJ State Employees Deferred Compensation Plan grew its position in Moneygram International by 11.1% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 100,000 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Moneygram International stock opened at $4.24 on Thursday. The company has a market capitalization of $227.99 million, a price-to-earnings ratio of 4.82 and a beta of 1.97. Moneygram International has a 1 year low of $4.06 and a 1 year high of $15.80.

Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Friday, August 3rd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.06. The firm had revenue of $374.60 million for the quarter, compared to analyst estimates of $387.37 million. Moneygram International had a negative net margin of 2.27% and a negative return on equity of 8.32%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts forecast that Moneygram International will post 0.51 EPS for the current year.

About Moneygram International

MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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