EVERTEC, Inc. (NYSE:EVTC – Get Free Report) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,930,000 shares, a growth of 23.7% from the June 15th total of 1,560,000 shares. Based on an average trading volume of 469,000 shares, the short-interest ratio is presently 4.1 days. Currently, 3.1% of the company’s stock are sold short.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods decreased their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.50.
Read Our Latest Research Report on EVERTEC
Hedge Funds Weigh In On EVERTEC
EVERTEC Stock Performance
EVTC stock traded up $0.50 during midday trading on Tuesday, hitting $33.53. 56,141 shares of the stock traded hands, compared to its average volume of 390,601. The firm has a market cap of $2.16 billion, a P/E ratio of 33.81, a PEG ratio of 1.88 and a beta of 1.13. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s fifty day simple moving average is $34.30 and its 200-day simple moving average is $37.39. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21.
EVERTEC (NYSE:EVTC – Get Free Report) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. The business had revenue of $205.32 million for the quarter, compared to analyst estimates of $200.75 million. On average, analysts expect that EVERTEC will post 2.38 earnings per share for the current year.
EVERTEC Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, April 29th were given a dividend of $0.05 per share. The ex-dividend date was Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. EVERTEC’s payout ratio is presently 20.20%.
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.
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