Euronet Worldwide, Inc. (NASDAQ:EEFT) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,290,000 shares, a decline of 29.1% from the June 15th total of 1,820,000 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 722,800 shares, the short-interest ratio is currently 1.8 days.
EEFT has been the subject of a number of recent analyst reports. TheStreet cut shares of Euronet Worldwide from a “b-” rating to a “c+” rating in a research note on Friday, March 27th. Northland Securities initiated coverage on shares of Euronet Worldwide in a research note on Friday, June 26th. They set a “buy” rating and a $125.00 price target for the company. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $109.00 price target for the company. in a research note on Friday, June 19th. Zacks Investment Research raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating and set a $101.00 price target for the company in a research note on Wednesday. Finally, BidaskClub cut shares of Euronet Worldwide from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $131.11.
Institutional investors and hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. purchased a new stake in shares of Euronet Worldwide in the 1st quarter worth approximately $31,000. Tower Research Capital LLC TRC purchased a new stake in shares of Euronet Worldwide in the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. lifted its position in shares of Euronet Worldwide by 44.6% in the 1st quarter. Meeder Asset Management Inc. now owns 700 shares of the business services provider’s stock worth $60,000 after purchasing an additional 216 shares during the period. Huntington National Bank lifted its position in shares of Euronet Worldwide by 20.7% in the 1st quarter. Huntington National Bank now owns 828 shares of the business services provider’s stock worth $71,000 after purchasing an additional 142 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Euronet Worldwide in the 4th quarter worth approximately $86,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
Euronet Worldwide stock traded up $1.57 during trading hours on Friday, hitting $99.25. The company had a trading volume of 751,240 shares, compared to its average volume of 704,055. The firm has a market cap of $5.18 billion, a P/E ratio of 17.54 and a beta of 1.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.69 and a current ratio of 1.69. Euronet Worldwide has a 1 year low of $61.27 and a 1 year high of $171.25. The company has a 50-day moving average price of $98.22 and a two-hundred day moving average price of $116.65.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.14). Euronet Worldwide had a return on equity of 24.88% and a net margin of 11.40%. The business had revenue of $583.90 million during the quarter, compared to analysts’ expectations of $591.50 million. During the same period in the previous year, the company posted $0.85 EPS. Euronet Worldwide’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Euronet Worldwide will post 1.05 EPS for the current year.
About Euronet Worldwide
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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