Evertec, Inc. (NYSE:EVTC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, October 27th.
Several other research analysts have also recently weighed in on the company. TheStreet cut Evertec from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. Morgan Stanley reduced their target price on Evertec from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, October 19th. Zacks Investment Research downgraded Evertec from a “hold” rating to a “strong sell” rating in a report on Monday, October 16th. Cowen and Company reaffirmed a “hold” rating and issued a $20.00 target price on shares of Evertec in a report on Thursday, October 12th. Finally, ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Evertec has a consensus rating of “Hold” and an average target price of $17.83.
Shares of Evertec (NYSE EVTC) opened at $13.35 on Friday. Evertec has a fifty-two week low of $13.15 and a fifty-two week high of $19.52. The firm has a market capitalization of $966.41, a P/E ratio of 8.09, a PEG ratio of 1.84 and a beta of 1.18. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 4.08.
Evertec (NYSE:EVTC) last posted its earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The business had revenue of $102.70 million during the quarter, compared to analyst estimates of $97.11 million. Evertec had a net margin of 15.92% and a return on equity of 95.54%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. research analysts expect that Evertec will post 1.46 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of EVTC. Russell Investments Group Ltd. bought a new stake in Evertec in the 1st quarter valued at about $374,000. First Trust Advisors LP boosted its stake in Evertec by 8.2% during the 1st quarter. First Trust Advisors LP now owns 36,591 shares of the business services provider’s stock valued at $582,000 after purchasing an additional 2,784 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Evertec by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 340,359 shares of the business services provider’s stock valued at $5,412,000 after purchasing an additional 11,217 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Evertec by 15.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 34,484 shares of the business services provider’s stock valued at $548,000 after purchasing an additional 4,741 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Evertec by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 435,014 shares of the business services provider’s stock valued at $6,917,000 after purchasing an additional 20,305 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.
Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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