Euronet Worldwide (NASDAQ:EEFT) Rating Lowered to Neutral at Citigroup

Euronet Worldwide (NASDAQ:EEFT) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $110.00 target price on the business services provider’s stock, down from their previous target price of $118.00. Citigroup’s price objective would suggest a potential upside of 11.49% from the company’s current price.

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

Euronet Worldwide Trading Down 0.4 %

Shares of NASDAQ:EEFT opened at $98.66 on Friday. The company has a market capitalization of $4.52 billion, a PE ratio of 17.37 and a beta of 1.46. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85. Euronet Worldwide has a 12-month low of $75.41 and a 12-month high of $117.66. The business’s fifty day simple moving average is $100.52 and its 200-day simple moving average is $104.55.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.21. The firm had revenue of $986.20 million for the quarter, compared to the consensus estimate of $1.09 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. As a group, equities research analysts predict that Euronet Worldwide will post 7.88 earnings per share for the current fiscal year.

Insider Transactions at Euronet Worldwide

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 bought at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Juan Bianchi sold 4,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total transaction of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at $1,276,095.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Mcdonnell acquired 3,206 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $93.86 per share, with a total value of $300,915.16. Following the acquisition, the director now owns 90,000 shares in the company, valued at $8,447,400. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Euronet Worldwide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its position in Euronet Worldwide by 38.8% during the first quarter. CWM LLC now owns 991 shares of the business services provider’s stock worth $109,000 after purchasing an additional 277 shares during the last quarter. Cooper Financial Group purchased a new position in Euronet Worldwide in the first quarter worth approximately $621,000. FCF Advisors LLC increased its stake in Euronet Worldwide by 7.8% during the first quarter. FCF Advisors LLC now owns 8,436 shares of the business services provider’s stock worth $927,000 after acquiring an additional 613 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Euronet Worldwide in the 1st quarter valued at $588,000. Finally, State of Michigan Retirement System grew its holdings in shares of Euronet Worldwide by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 10,717 shares of the business services provider’s stock worth $1,178,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.