Euronet Worldwide (NASDAQ:EEFT) Downgraded by DA Davidson to “Neutral”

DA Davidson downgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a buy rating to a neutral rating in a report released on Thursday morning, Benzinga reports. They currently have $161.20 price objective on the business services provider’s stock. DA Davidson also issued estimates for Euronet Worldwide’s Q2 2019 earnings at $1.64 EPS and Q1 2020 earnings at $0.98 EPS. The analysts noted that the move was a valuation call.

Several other equities analysts also recently commented on the company. Piper Jaffray Companies boosted their price objective on Euronet Worldwide to $159.00 in a research report on Tuesday, March 5th. Zacks Investment Research upgraded Euronet Worldwide from a hold rating to a buy rating and set a $145.00 price objective on the stock in a research report on Thursday, February 14th. Wells Fargo & Co boosted their price objective on Euronet Worldwide from $150.00 to $164.00 and gave the company an outperform rating in a research report on Thursday, April 11th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Euronet Worldwide from a strong-buy rating to a buy rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $152.74.

Shares of Euronet Worldwide stock traded down $1.15 during trading hours on Thursday, hitting $158.97. The company’s stock had a trading volume of 1,058 shares, compared to its average volume of 316,893. Euronet Worldwide has a 12-month low of $81.68 and a 12-month high of $163.61. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.83 and a beta of 1.16. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.50.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Monday, April 29th. The business services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Euronet Worldwide had a return on equity of 24.83% and a net margin of 9.40%. The business had revenue of $577.50 million for the quarter, compared to the consensus estimate of $602.73 million. During the same period in the previous year, the business earned $0.73 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Euronet Worldwide will post 6.7 earnings per share for the current year.

In other news, VP Jeffrey B. Newman sold 5,461 shares of Euronet Worldwide stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $161.12, for a total value of $879,876.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EEFT. Vanguard Group Inc increased its stake in Euronet Worldwide by 2.1% during the third quarter. Vanguard Group Inc now owns 4,324,654 shares of the business services provider’s stock worth $433,417,000 after acquiring an additional 87,599 shares during the last quarter. Strs Ohio bought a new stake in Euronet Worldwide during the fourth quarter worth approximately $266,000. BB&T Securities LLC increased its stake in Euronet Worldwide by 2.9% during the fourth quarter. BB&T Securities LLC now owns 10,111 shares of the business services provider’s stock worth $1,035,000 after acquiring an additional 284 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Euronet Worldwide during the fourth quarter worth approximately $2,099,000. Finally, WINTON GROUP Ltd bought a new stake in Euronet Worldwide during the fourth quarter worth approximately $203,000. 99.51% of the stock is currently owned by institutional investors.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) 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 card outsourcing, card issuing, and merchant acquiring services.

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Analyst Recommendations for Euronet Worldwide (NASDAQ:EEFT)

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