Euronet Worldwide (NASDAQ:EEFT) Reaches New 52-Week Low – Time to Sell?

Euronet Worldwide, Inc. (NASDAQ:EEFT)’s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $62.02 and last traded at $62.6990, with a volume of 431078 shares changing hands. The stock had previously closed at $63.54.

Wall Street Analysts Forecast Growth

EEFT has been the topic of a number of research reports. DA Davidson reaffirmed a “buy” rating and set a $102.00 target price on shares of Euronet Worldwide in a research report on Friday, July 10th. Wolfe Research decreased their price target on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating for the company in a research note on Tuesday, August 25th. Needham & Company LLC upped their price objective on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.00.

Euronet Worldwide Price Performance

The firm has a market cap of $2.39 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.52 and a beta of 0.85. The company has a fifty day moving average of $69.87 and a 200-day moving average of $70.70. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.37.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.56 EPS. On average, sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Euronet Worldwide in the 2nd quarter valued at $244,726,000. Jupiter Topco LLC bought a new stake in shares of Euronet Worldwide during the 2nd quarter worth $98,213,000. Turtle Creek Asset Management Inc. boosted its holdings in shares of Euronet Worldwide by 44.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock worth $122,588,000 after buying an additional 572,194 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of Euronet Worldwide in the 4th quarter worth about $37,523,000. Finally, Norges Bank bought a new position in Euronet Worldwide during the fourth quarter valued at about $34,345,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Euronet Worldwide

Euronet Worldwide, Inc (NASDAQ: EEFT) is a global electronic payments and transaction processing company. Headquartered in Leawood, Kansas, the company provides payment and financial technology services to financial institutions, retailers, mobile operators, money transfer providers and consumers.

Euronet operates through three principal business areas: electronic funds transfer processing, epay and money transfer. Its electronic funds transfer services include automated teller machine and point-of-sale processing, electronic payment solutions, outsourced transaction processing and related network services.