Zacks Investment Research Upgrades Qiwi (QIWI) to “Strong-Buy”

Zacks Investment Research upgraded shares of Qiwi (NASDAQ:QIWI) from a hold rating to a strong-buy rating in a report issued on Thursday morning, Zacks.com reports. They currently have $19.00 price objective on the credit services provider’s stock.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

A number of other research firms also recently issued reports on QIWI. ValuEngine upgraded Qiwi from a strong sell rating to a sell rating in a research note on Friday, May 17th. BidaskClub downgraded Qiwi from a hold rating to a sell rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. downgraded Qiwi from an overweight rating to a neutral rating and cut their price target for the company from $25.00 to $19.00 in a research note on Wednesday, February 13th. Finally, TheStreet upgraded Qiwi from a c+ rating to a b- rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $18.75.

QIWI stock opened at $16.33 on Thursday. The stock has a market cap of $995.00 million, a price-to-earnings ratio of 17.01 and a beta of 1.52. Qiwi has a 52-week low of $11.61 and a 52-week high of $17.68.

Qiwi (NASDAQ:QIWI) last released its quarterly earnings results on Thursday, May 16th. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $82.90 million during the quarter. Qiwi had a return on equity of 16.86% and a net margin of 12.20%. Equities research analysts expect that Qiwi will post 1.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.12 annualized dividend and a dividend yield of 6.86%. This is a boost from Qiwi’s previous quarterly dividend of $0.21.

Several institutional investors have recently bought and sold shares of QIWI. Quantamental Technologies LLC bought a new position in shares of Qiwi during the 4th quarter worth approximately $37,000. SEI Investments Co bought a new position in shares of Qiwi during the 1st quarter worth approximately $60,000. Financial Gravity Companies Inc. bought a new position in shares of Qiwi during the 4th quarter worth approximately $65,000. Smith Asset Management Group LP bought a new position in shares of Qiwi during the 4th quarter worth approximately $101,000. Finally, New York State Common Retirement Fund bought a new position in shares of Qiwi during the 4th quarter worth approximately $105,000. 26.97% of the stock is currently owned by hedge funds and other institutional investors.

Qiwi Company Profile

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

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