Euronet Worldwide (NASDAQ:EEFT) Now Covered by Stephens

Investment analysts at Stephens assumed coverage on shares of Euronet Worldwide (NASDAQ:EEFT) in a research report issued on Friday. The brokerage set an “equal weight” rating and a $71.00 price target on the business services provider’s stock. Stephens’ target price suggests a potential upside of 8.73% from the company’s current price.

A number of other equities research analysts have also weighed in on EEFT. Wolfe Research lowered their price objective on Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, August 25th. DA Davidson restated a “buy” rating and issued a $102.00 price target on shares of Euronet Worldwide in a report on Friday, July 10th. Weiss Ratings lowered Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC lifted their target price on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.17.

Euronet Worldwide Stock Down 0.4%

NASDAQ EEFT traded down $0.24 during trading hours on Friday, hitting $65.30. 13,540 shares of the company were exchanged, compared to its average volume of 687,818. The company has a 50 day moving average of $68.25 and a two-hundred day moving average of $70.55. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.52 and a beta of 0.85. Euronet Worldwide has a 52-week low of $61.62 and a 52-week high of $89.44. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, July 30th. The business services provider reported $2.82 EPS for the quarter, missing analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.56 earnings per share. Equities research analysts anticipate that Euronet Worldwide will post 9.50 earnings per share for the current year.

Institutional Investors Weigh In On Euronet Worldwide

A number of institutional investors have recently modified their holdings of the stock. Reinhart Partners LLC. raised its stake in Euronet Worldwide by 0.8% during the third quarter. Reinhart Partners LLC. now owns 1,640,380 shares of the business services provider’s stock worth $103,131,000 after acquiring an additional 13,239 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Euronet Worldwide by 16.7% in the second quarter. Sequoia Financial Advisors LLC now owns 7,216 shares of the business services provider’s stock valued at $528,000 after buying an additional 1,035 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Euronet Worldwide during the 2nd quarter valued at about $2,277,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Euronet Worldwide in the second quarter valued at approximately $75,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Euronet Worldwide in the second quarter valued at approximately $250,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.