International Money Express (NASDAQ:IMXI) Updates FY 2024 Earnings Guidance

International Money Express (NASDAQ:IMXI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.130-2.310 for the period, compared to the consensus earnings per share estimate of 2.200. The company issued revenue guidance of $681.0 million-$701.8 million, compared to the consensus revenue estimate of $691.3 million. International Money Express also updated its FY24 guidance to $2.13-2.31 EPS.

International Money Express Trading Up 2.6 %

Shares of IMXI traded up $0.50 during trading hours on Wednesday, reaching $20.09. The stock had a trading volume of 313,444 shares, compared to its average volume of 229,545. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.37. International Money Express has a 52 week low of $15.76 and a 52 week high of $26.25. The firm has a 50-day moving average of $21.26 and a 200 day moving average of $20.76. The company has a market cap of $677.64 million, a P/E ratio of 12.32 and a beta of 0.76.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. International Money Express had a net margin of 9.03% and a return on equity of 42.30%. The business had revenue of $171.78 million during the quarter, compared to analysts’ expectations of $175.55 million. On average, sell-side analysts expect that International Money Express will post 2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IMXI shares. BMO Capital Markets decreased their price objective on International Money Express from $30.00 to $29.00 and set an outperform rating for the company in a report on Wednesday, February 28th. Monness Crespi & Hardt initiated coverage on International Money Express in a report on Wednesday, March 20th. They issued a buy rating and a $27.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $24.00.

Insiders Place Their Bets

In other news, insider Joseph Aguilar sold 23,700 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $21.13, for a total transaction of $500,781.00. Following the transaction, the insider now directly owns 105,677 shares of the company’s stock, valued at $2,232,955.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.50% of the company’s stock.

International Money Express Company Profile

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.