EVERTEC (NYSE:EVTC) Releases FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.08-3.15 for the period, compared to the consensus earnings per share estimate of $3.03. The company issued revenue guidance of $841-847 million, compared to the consensus revenue estimate of $850.72 million.

Wall Street Analyst Weigh In

Separately, Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th.

EVERTEC Stock Performance

Shares of EVTC traded up $1.73 during mid-day trading on Wednesday, hitting $34.16. The stock had a trading volume of 673,328 shares, compared to its average volume of 396,377. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. The company has a market cap of $2.19 billion, a PE ratio of 32.75, a PEG ratio of 1.62 and a beta of 1.15. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The company’s fifty day simple moving average is $33.22 and its two-hundred day simple moving average is $34.04.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 annualized dividend and a yield of 0.59%. EVERTEC’s payout ratio is 19.05%.

Insider Transactions at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

About EVERTEC

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.