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

Citigroup lowered shares of Euronet Worldwide (NASDAQ:EEFT) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat reports. Citigroup currently has $110.00 price target on the business services provider’s stock, down from their previous price target of $118.00.

Other equities analysts have also recently issued research reports about the company. Oppenheimer began coverage on Euronet Worldwide in a report on Tuesday, October 1st. They set an “outperform” rating and a $121.00 price target for the company. StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Monness Crespi & Hardt boosted their price objective on Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. DA Davidson restated a “buy” rating and set a $136.00 price objective on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Euronet Worldwide in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.56.

Euronet Worldwide Price Performance

Shares of NASDAQ EEFT opened at $98.66 on Friday. Euronet Worldwide has a fifty-two week low of $75.41 and a fifty-two week high of $117.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 17.37 and a beta of 1.46. The business has a 50-day moving average of $100.50 and a 200-day moving average of $104.61.

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

Insider Activity

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

Institutional Trading of Euronet Worldwide

Several institutional investors have recently modified their holdings of EEFT. Arizona State Retirement System raised its holdings in shares of Euronet Worldwide by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 12,176 shares of the business services provider’s stock worth $1,260,000 after acquiring an additional 135 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Euronet Worldwide by 6.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,350 shares of the business services provider’s stock worth $243,000 after purchasing an additional 143 shares in the last quarter. State of Michigan Retirement System grew its holdings in 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 valued at $1,178,000 after buying an additional 200 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Euronet Worldwide by 14.7% in the second quarter. Fifth Third Bancorp now owns 1,588 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 203 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in Euronet Worldwide by 0.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,289 shares of the business services provider’s stock worth $6,075,000 after acquiring an additional 215 shares during the period. Institutional investors own 91.60% of the company’s stock.

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. 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.