Wall Street brokerages forecast that Moneygram International Inc (NASDAQ:MGI) will post earnings of $0.16 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Moneygram International’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.19. Moneygram International reported earnings of $0.24 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 33.3%. The firm is expected to report its next earnings results on Thursday, November 1st.
On average, analysts expect that Moneygram International will report full-year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.65 to $0.74. For the next year, analysts anticipate that the company will post earnings of $0.66 per share, with EPS estimates ranging from $0.58 to $0.74. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Moneygram International.
Moneygram International (NASDAQ:MGI) last issued its earnings results on Friday, August 3rd. The financial services provider reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.06. The firm had revenue of $374.60 million during the quarter, compared to analysts’ expectations of $387.37 million. Moneygram International had a negative net margin of 2.27% and a negative return on equity of 8.32%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share.
A number of analysts recently weighed in on MGI shares. BidaskClub cut shares of Moneygram International from a “sell” rating to a “strong sell” rating in a report on Saturday, August 4th. Morgan Stanley reduced their target price on shares of Moneygram International from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Monday, August 6th. Finally, Zacks Investment Research upgraded shares of Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a report on Friday, August 10th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus target price of $6.63.
Large investors have recently modified their holdings of the stock. Citigroup Inc. lifted its position in shares of Moneygram International by 7,783.5% in the 1st quarter. Citigroup Inc. now owns 19,630 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 19,381 shares in the last quarter. Element Capital Management LLC purchased a new stake in Moneygram International in the 1st quarter worth approximately $187,000. GSA Capital Partners LLP purchased a new stake in Moneygram International in the 1st quarter worth approximately $224,000. Martingale Asset Management L P purchased a new stake in Moneygram International in the 2nd quarter worth approximately $203,000. Finally, Russell Investments Group Ltd. purchased a new stake in Moneygram International in the 1st quarter worth approximately $270,000. Institutional investors and hedge funds own 86.07% of the company’s stock.
Shares of NASDAQ:MGI opened at $4.57 on Friday. The company has a market cap of $297.50 million, a P/E ratio of 5.19 and a beta of 1.98. Moneygram International has a 1-year low of $4.46 and a 1-year high of $15.95. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of -2.15.
About Moneygram International
MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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