$402.93 Million in Sales Expected for Moneygram International Inc (MGI) This Quarter

Equities analysts expect Moneygram International Inc (NASDAQ:MGI) to report sales of $402.93 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Moneygram International’s earnings, with estimates ranging from $401.90 million to $403.90 million. Moneygram International reported sales of $416.20 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.2%. The company is expected to issue its next earnings report on Wednesday, March 21st.

On average, analysts expect that Moneygram International will report full-year sales of $402.93 million for the current fiscal year, with estimates ranging from $1.60 billion to $1.62 billion. For the next financial year, analysts forecast that the firm will report sales of $1.67 billion per share, with estimates ranging from $1.63 billion to $1.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Moneygram International.

MGI has been the topic of a number of recent analyst reports. ValuEngine raised shares of Moneygram International from a “hold” rating to a “buy” rating in a research report on Saturday, December 9th. Zacks Investment Research downgraded shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. BidaskClub raised shares of Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 11th. Finally, JPMorgan Chase & Co. downgraded shares of Moneygram International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.70.

Several institutional investors have recently modified their holdings of MGI. Schwab Charles Investment Management Inc. boosted its holdings in shares of Moneygram International by 10.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 127,817 shares of the financial services provider’s stock valued at $2,205,000 after buying an additional 11,622 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Moneygram International by 9.8% in the 2nd quarter. Swiss National Bank now owns 53,870 shares of the financial services provider’s stock valued at $929,000 after buying an additional 4,800 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Moneygram International by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 21,129 shares of the financial services provider’s stock valued at $365,000 after buying an additional 973 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Moneygram International by 43.3% in the 2nd quarter. Alliancebernstein L.P. now owns 29,800 shares of the financial services provider’s stock valued at $514,000 after buying an additional 9,005 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Moneygram International by 6.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,626 shares of the financial services provider’s stock valued at $1,615,000 after buying an additional 6,049 shares in the last quarter. Institutional investors and hedge funds own 88.79% of the company’s stock.

Shares of Moneygram International (NASDAQ MGI) opened at $11.59 on Friday. Moneygram International has a 52-week low of $9.92 and a 52-week high of $17.92. The company has a debt-to-equity ratio of -2.47, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $628.54, a P/E ratio of 25.76 and a beta of 1.79.

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Moneygram International Company Profile

MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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