Brokerages Anticipate Evertec Inc (EVTC) to Post $0.45 Earnings Per Share

Wall Street analysts predict that Evertec Inc (NYSE:EVTC) will announce earnings of $0.45 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Evertec’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.48. Evertec posted earnings of $0.24 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 87.5%. The firm is expected to announce its next earnings results after the market closes on Wednesday, February 20th.

According to Zacks, analysts expect that Evertec will report full-year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.81 to $1.86. For the next fiscal year, analysts anticipate that the business will post earnings of $1.96 per share, with EPS estimates ranging from $1.87 to $2.07. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Evertec.

A number of equities research analysts have recently commented on EVTC shares. Raymond James raised shares of Evertec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 31st. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, November 2nd. Finally, Keefe, Bruyette & Woods started coverage on shares of Evertec in a research note on Thursday, December 6th. They set an “outperform” rating and a $32.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Evertec currently has a consensus rating of “Hold” and a consensus target price of $26.14.

Shares of NYSE EVTC traded up $0.12 during midday trading on Monday, reaching $28.74. 428,700 shares of the stock were exchanged, compared to its average volume of 576,664. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.55 and a beta of 0.65. Evertec has a twelve month low of $15.35 and a twelve month high of $30.20. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.73 and a quick ratio of 1.73.

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of Evertec stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $27.33, for a total value of $1,093,200.00. Following the sale, the executive vice president now owns 155,887 shares of the company’s stock, valued at approximately $4,260,391.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tere Loubriel sold 2,900 shares of Evertec stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $27.04, for a total transaction of $78,416.00. Following the completion of the sale, the director now directly owns 18,879 shares in the company, valued at approximately $510,488.16. The disclosure for this sale can be found here. Insiders sold a total of 87,278 shares of company stock worth $2,340,533 in the last three months. 0.76% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund raised its holdings in Evertec by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 39,509 shares of the business services provider’s stock valued at $1,134,000 after buying an additional 1,533 shares during the period. Bank of New York Mellon Corp raised its holdings in Evertec by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 840,733 shares of the business services provider’s stock valued at $24,129,000 after buying an additional 48,781 shares during the period. BlackRock Inc. raised its holdings in Evertec by 2.7% in the 4th quarter. BlackRock Inc. now owns 8,897,120 shares of the business services provider’s stock valued at $255,347,000 after buying an additional 233,554 shares during the period. New York State Common Retirement Fund raised its holdings in Evertec by 19.0% in the 4th quarter. New York State Common Retirement Fund now owns 207,125 shares of the business services provider’s stock valued at $5,944,000 after buying an additional 33,045 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Evertec by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 131,588 shares of the business services provider’s stock valued at $3,777,000 after buying an additional 4,293 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

About Evertec

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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