Euronet Worldwide (NASDAQ:EEFT) Hits New 52-Week Low Following Weak Earnings

Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) hit a new 52-week low on Tuesday following a weaker than expected earnings announcement. The company traded as low as $59.75 and last traded at $62.72, with a volume of 27,384 shares trading hands. The stock had previously closed at $63.95.

The business services provider reported $3.55 earnings per share for the quarter, missing the consensus estimate of $3.69 by ($0.14). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.62 earnings per share.

Analyst Ratings Changes

EEFT has been the subject of several research reports. Stephens started coverage on Euronet Worldwide in a report on Friday, October 16th. They issued an “equal weight” rating and a $71.00 target price for the company. DA Davidson restated a “buy” rating and issued a $102.00 price objective on shares of Euronet Worldwide in a report on Friday, July 10th. Wolfe Research lowered their price objective 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 increased their target price 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 cut shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $81.60.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EEFT. BlackRock Inc. purchased a new position in shares of Euronet Worldwide during the 2nd quarter valued at about $244,726,000. Turtle Creek Asset Management Inc. boosted its stake in shares of Euronet Worldwide by 44.9% during 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 acquiring an additional 572,194 shares in the last quarter. Reinhart Partners LLC. raised its holdings in Euronet Worldwide by 9.2% in the 2nd quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider’s stock worth $119,091,000 after purchasing an additional 136,613 shares during the period. Jupiter Topco LLC purchased a new position in shares of Euronet Worldwide during the 2nd quarter valued at approximately $98,213,000. Finally, Janus Henderson Group PLC increased its holdings in Euronet Worldwide by 3.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,406,556 shares of the business services provider’s stock worth $93,353,000 after acquiring an additional 48,990 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock’s 50-day simple moving average is $67.30 and its two-hundred day simple moving average is $70.69. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.53 and a beta of 0.85.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc is a global provider of electronic payment and transaction-processing services. Founded in 1994 and headquartered in Leawood, Kansas, the company serves financial institutions, retailers, mobile network operators, businesses and consumers through operations in markets around the world.

Euronet operates through three principal business segments: electronic financial transactions, epay and money transfer. Its electronic financial transaction business provides automated teller machine (ATM) services, point-of-sale services, card outsourcing, electronic payment processing and related financial technology solutions.