Euronet Worldwide (NASDAQ:EEFT) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

A number of other analysts also recently commented on the company. Needham & Company LLC restated a buy rating and set a $125.00 price objective on shares of Euronet Worldwide in a report on Monday, July 22nd. William Blair reaffirmed an outperform rating on shares of Euronet Worldwide in a research report on Wednesday, May 1st. Citigroup increased their price target on shares of Euronet Worldwide from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. DA Davidson increased their price objective on shares of Euronet Worldwide from $126.00 to $136.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Finally, Monness Crespi & Hardt increased their price objective on shares of Euronet Worldwide from $140.00 to $145.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $124.11.

Euronet Worldwide Stock Performance

Shares of EEFT stock opened at $97.06 on Friday. The stock has a market capitalization of $4.45 billion, a PE ratio of 17.09 and a beta of 1.45. Euronet Worldwide has a 52-week low of $73.84 and a 52-week high of $117.66. The stock’s 50-day moving average price is $104.01 and its 200 day moving average price is $106.81. The company has a quick ratio of 1.33, a current ratio of 1.19 and a debt-to-equity ratio of 0.85.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.21. The company had revenue of $986.20 million for the quarter, compared to analyst estimates of $1.09 billion. Euronet Worldwide had a return on equity of 27.81% and a net margin of 7.46%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. As a group, equities research analysts forecast that Euronet Worldwide will post 7.9 EPS for the current year.

Insider Buying and Selling

In other Euronet Worldwide news, Director Thomas A. Mcdonnell purchased 3,206 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $93.86 per share, for a total transaction of $300,915.16. Following the purchase, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Euronet Worldwide during the 4th quarter worth about $54,947,000. Ophir Asset Management Pty Ltd acquired a new position in shares of Euronet Worldwide in the 4th quarter valued at approximately $31,186,000. Burgundy Asset Management Ltd. increased its position in Euronet Worldwide by 67.8% during the 4th quarter. Burgundy Asset Management Ltd. now owns 746,579 shares of the business services provider’s stock worth $75,770,000 after purchasing an additional 301,771 shares in the last quarter. Kodai Capital Management LP acquired a new position in Euronet Worldwide during the 4th quarter worth approximately $23,728,000. Finally, Wasatch Advisors LP increased its position in Euronet Worldwide by 51.2% during the 4th quarter. Wasatch Advisors LP now owns 579,334 shares of the business services provider’s stock worth $58,797,000 after purchasing an additional 196,161 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.