Citigroup Downgrades Euronet Worldwide (NASDAQ:EEFT) to Neutral

Euronet Worldwide (NASDAQ:EEFT) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. They currently have a $110.00 price objective on the business services provider’s stock, down from their previous price objective of $118.00. Citigroup’s target price indicates a potential upside of 11.49% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Oppenheimer started coverage on shares of Euronet Worldwide in a research report on Tuesday, October 1st. They set an “outperform” rating and a $121.00 target price for the company. Monness Crespi & Hardt raised their price objective on Euronet Worldwide from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 target price on shares of Euronet Worldwide in a research report on Wednesday, September 4th. StockNews.com lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Euronet Worldwide Stock Performance

NASDAQ EEFT opened at $98.66 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.85. Euronet Worldwide has a twelve month low of $75.41 and a twelve month high of $117.66. The business has a 50-day moving average price of $100.52 and a 200-day moving average price of $104.55. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 17.37 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.21. Euronet Worldwide had a return on equity of 27.81% and a net margin of 7.46%. The business had revenue of $986.20 million during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $1.84 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that Euronet Worldwide will post 7.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO Juan Bianchi sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the transaction, the chief executive officer now owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Juan Bianchi sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares in the company, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Mcdonnell purchased 3,206 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the completion of the acquisition, the director now directly owns 90,000 shares in the company, valued at $8,447,400. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Euronet Worldwide

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in Euronet Worldwide during the 1st quarter valued at $50,000. Summit Securities Group LLC purchased a new stake in shares of Euronet Worldwide during the second quarter valued at $57,000. Covestor Ltd boosted its stake in shares of Euronet Worldwide by 174.9% during the first quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 348 shares during the period. GAMMA Investing LLC grew its holdings in shares of Euronet Worldwide by 69.5% in the second quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock worth $61,000 after purchasing an additional 241 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Euronet Worldwide in the 2nd quarter worth about $80,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.