$0.15 EPS Expected for Moneygram International Inc (MGI) This Quarter

Wall Street brokerages expect that Moneygram International Inc (NASDAQ:MGI) will report earnings per share of $0.15 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Moneygram International’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.17. Moneygram International posted earnings per share of $0.27 in the same quarter last year, which suggests a negative year over year growth rate of 44.4%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Moneygram International will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.65 to $0.74. For the next year, analysts expect that the business will report earnings of $0.66 per share, with EPS estimates ranging from $0.58 to $0.74. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Moneygram International.

Moneygram International (NASDAQ:MGI) last issued its quarterly earnings results on Friday, August 3rd. The financial services provider reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.06. Moneygram International had a negative return on equity of 8.32% and a negative net margin of 2.27%. The company had revenue of $374.60 million for the quarter, compared to the consensus estimate of $387.37 million. During the same period in the previous year, the business posted $0.27 EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis.

A number of equities research analysts have commented on MGI shares. Zacks Investment Research upgraded Moneygram International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a research note on Friday, July 27th. Finally, Morgan Stanley cut their price objective on Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Monday, August 6th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.63.

NASDAQ MGI traded up $0.01 during trading on Wednesday, reaching $5.68. 2,752 shares of the company’s stock were exchanged, compared to its average volume of 341,183. Moneygram International has a fifty-two week low of $5.56 and a fifty-two week high of $16.27. The firm has a market capitalization of $314.73 million, a PE ratio of 6.45 and a beta of 1.93. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.15.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Moneygram International by 6.4% in the 2nd quarter. BlackRock Inc. now owns 2,170,355 shares of the financial services provider’s stock worth $14,521,000 after buying an additional 131,236 shares during the period. Millennium Management LLC increased its position in Moneygram International by 7,437.8% in the 1st quarter. Millennium Management LLC now owns 1,467,158 shares of the financial services provider’s stock worth $12,647,000 after buying an additional 1,447,694 shares during the period. Dimensional Fund Advisors LP increased its position in Moneygram International by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,335,365 shares of the financial services provider’s stock worth $8,934,000 after buying an additional 128,863 shares during the period. Gabelli Funds LLC increased its position in Moneygram International by 126.9% in the 2nd quarter. Gabelli Funds LLC now owns 541,146 shares of the financial services provider’s stock worth $3,620,000 after buying an additional 302,614 shares during the period. Finally, Northern Trust Corp increased its position in Moneygram International by 14.1% in the 2nd quarter. Northern Trust Corp now owns 363,470 shares of the financial services provider’s stock worth $2,431,000 after buying an additional 44,823 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Moneygram International Company Profile

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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