Evertec, Inc. (EVTC) to Issue Quarterly Dividend of $0.05 on December 4th

Evertec, Inc. (NYSE:EVTC) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.05 per share by the business services provider on Friday, December 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, November 9th.

Evertec has a payout ratio of 5.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Evertec to earn $3.84 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 5.2%.

Evertec Stock Down 1.0%

Shares of NYSE:EVTC opened at $33.69 on Friday. Evertec has a 12-month low of $21.81 and a 12-month high of $35.28. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 0.93 and a beta of 0.71. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.89. The stock has a fifty day simple moving average of $29.94 and a two-hundred day simple moving average of $28.49.

Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, November 3rd. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $282.99 million during the quarter, compared to analysts’ expectations of $272.94 million. Evertec had a net margin of 9.80% and a return on equity of 32.07%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. On average, research analysts anticipate that Evertec will post 3.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on EVTC. Morgan Stanley set a $34.00 target price on shares of Evertec in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Evertec from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Keefe, Bruyette & Woods lifted their target price on shares of Evertec from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings upgraded shares of Evertec from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Evertec currently has an average rating of “Hold” and an average target price of $36.67.

About Evertec

Evertec, Inc is a payment processing and financial technology company that provides transaction-processing services and business technology solutions to financial institutions, merchants, government agencies and other organizations. The company operates through businesses that support electronic payments, merchant acquiring, payment networks and related financial services.

Its products and services include debit and credit card processing, point-of-sale and e-commerce payment acceptance, automated teller machine processing, prepaid services, electronic bill payment and money transfer solutions.