Euronet Worldwide (NASDAQ:EEFT) Downgraded by Citigroup to Neutral

Citigroup lowered shares of Euronet Worldwide (NASDAQ:EEFT) from a buy rating to a neutral rating in a report published on Friday, Marketbeat Ratings reports. The firm currently has $110.00 price objective on the business services provider’s stock, down from their prior price objective of $118.00.

A number of other research analysts have also commented on the company. DA Davidson reiterated a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research report on Tuesday, October 8th. Monness Crespi & Hardt increased 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. Oppenheimer assumed coverage on Euronet Worldwide in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Euronet Worldwide in a research report on Wednesday, September 4th. Finally, StockNews.com lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Euronet Worldwide Stock Down 0.4 %

NASDAQ EEFT opened at $98.66 on Friday. The firm has a market cap of $4.52 billion, a PE ratio of 17.37 and a beta of 1.46. Euronet Worldwide has a one year low of $75.41 and a one year high of $117.66. The stock’s 50 day simple moving average is $100.50 and its 200 day simple moving average is $104.61. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.21. The business 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%. Euronet Worldwide’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. As a group, sell-side analysts forecast that Euronet Worldwide will post 7.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Euronet Worldwide news, Director Thomas A. Mcdonnell acquired 3,206 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Juan Bianchi sold 4,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas A. Mcdonnell purchased 3,206 shares of the company’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $93.86 per share, for a total transaction of $300,915.16. Following the purchase, the director now directly owns 90,000 shares in the company, valued at approximately $8,447,400. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of Euronet Worldwide

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC raised its stake in shares of Euronet Worldwide by 4.5% in the 1st quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock valued at $62,337,000 after purchasing an additional 24,566 shares during the period. LSV Asset Management acquired a new stake in shares of Euronet Worldwide in the 1st quarter valued at about $1,638,000. Ellsworth Advisors LLC bought a new position in shares of Euronet Worldwide in the 2nd quarter valued at about $514,000. SG Capital Management LLC grew its holdings in shares of Euronet Worldwide by 106.8% in the 1st quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock valued at $4,610,000 after acquiring an additional 21,654 shares in the last quarter. Finally, New South Capital Management Inc. grew its holdings in shares of Euronet Worldwide by 21.8% in the 1st quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock valued at $59,188,000 after acquiring an additional 96,278 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

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. 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.