$821.83 Million in Sales Expected for Euronet Worldwide, Inc. (NASDAQ:EEFT) This Quarter

Brokerages expect Euronet Worldwide, Inc. (NASDAQ:EEFT) to announce sales of $821.83 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Euronet Worldwide’s earnings, with the highest sales estimate coming in at $848.00 million and the lowest estimate coming in at $802.90 million. Euronet Worldwide reported sales of $714.50 million in the same quarter last year, which indicates a positive year over year growth rate of 15%. The firm is expected to report its next earnings report before the market opens on Wednesday, October 23rd.

On average, analysts expect that Euronet Worldwide will report full-year sales of $2.82 billion for the current financial year, with estimates ranging from $2.80 billion to $2.85 billion. For the next financial year, analysts forecast that the firm will post sales of $3.13 billion, with estimates ranging from $3.06 billion to $3.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Euronet Worldwide.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $1.59 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.04). The business had revenue of $691.90 million during the quarter, compared to analyst estimates of $691.90 million. Euronet Worldwide had a net margin of 10.08% and a return on equity of 24.94%.

Several research firms have recently commented on EEFT. DA Davidson cut Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 price target for the company. in a report on Thursday, June 13th. They noted that the move was a valuation call. Citigroup raised their price target on Euronet Worldwide from $168.00 to $189.00 and gave the company a “buy” rating in a report on Monday, September 9th. BidaskClub raised Euronet Worldwide from a “strong sell” rating to a “sell” rating in a report on Friday, September 27th. ValuEngine cut Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Piper Jaffray Companies set a $180.00 price target on Euronet Worldwide and gave the company a “buy” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $168.80.

In related news, CEO Juan Bianchi sold 20,994 shares of Euronet Worldwide stock in a transaction on Friday, August 30th. The stock was sold at an average price of $152.51, for a total transaction of $3,201,794.94. Following the completion of the transaction, the chief executive officer now directly owns 20,994 shares of the company’s stock, valued at $3,201,794.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of EEFT. Invesco Ltd. raised its holdings in Euronet Worldwide by 211.1% during the second quarter. Invesco Ltd. now owns 936,781 shares of the business services provider’s stock worth $157,603,000 after purchasing an additional 635,710 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Euronet Worldwide during the second quarter worth $84,681,000. Vanguard Group Inc. raised its holdings in shares of Euronet Worldwide by 4.9% in the second quarter. Vanguard Group Inc. now owns 4,799,013 shares of the business services provider’s stock worth $807,386,000 after acquiring an additional 223,005 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Euronet Worldwide by 6.1% in the second quarter. BlackRock Inc. now owns 2,376,979 shares of the business services provider’s stock worth $399,903,000 after acquiring an additional 135,698 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Euronet Worldwide by 1,132.6% in the second quarter. Canada Pension Plan Investment Board now owns 114,632 shares of the business services provider’s stock worth $19,286,000 after acquiring an additional 105,332 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Shares of EEFT traded up $1.71 during mid-day trading on Friday, hitting $146.71. The company’s stock had a trading volume of 15,468 shares, compared to its average volume of 431,368. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $148.34 and a 200 day simple moving average of $153.02. The firm has a market capitalization of $8.02 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.77 and a beta of 1.12. Euronet Worldwide has a 1-year low of $91.78 and a 1-year high of $171.25.

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. 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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Earnings History and Estimates for Euronet Worldwide (NASDAQ:EEFT)

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