EVERTEC (NYSE:EVTC) Updates FY 2024 Earnings Guidance

EVERTEC (NYSE:EVTC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.080-3.150 for the period, compared to the consensus EPS estimate of 3.030. The company issued revenue guidance of $841.0 million-$847.0 million, compared to the consensus revenue estimate of $850.7 million. EVERTEC also updated its FY24 guidance to $3.08-3.15 EPS.

Wall Street Analyst Weigh In

Separately, Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the company from $38.00 to $28.00 in a report on Thursday, September 5th.

EVERTEC Price Performance

EVTC traded up $1.73 during trading on Wednesday, reaching $34.16. 673,328 shares of the stock were exchanged, compared to its average volume of 396,377. The business’s 50 day moving average price is $33.24 and its two-hundred day moving average price is $34.05. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 1.62 and a beta of 1.15. EVERTEC has a 1 year low of $28.76 and a 1 year high of $42.21.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is presently 19.05%.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by corporate insiders.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.