Evertec (EVTC) Releases Earnings Results, Beats Expectations By $0.04 EPS

Evertec (NYSE:EVTC) posted its quarterly earnings results on Tuesday. The business services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04, Briefing.com reports. The business had revenue of $112.02 million during the quarter, compared to the consensus estimate of $108.94 million. Evertec had a net margin of 12.91% and a return on equity of 64.95%. Evertec’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. Evertec updated its FY18 guidance to $1.79-1.83 EPS.

Shares of Evertec stock traded up $3.56 on Wednesday, hitting $26.06. The company had a trading volume of 52,981 shares, compared to its average volume of 431,057. The stock has a market capitalization of $1.74 billion, a PE ratio of 17.56 and a beta of 1.27. Evertec has a twelve month low of $12.60 and a twelve month high of $26.43. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.77.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Monday, November 5th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, November 2nd. Evertec’s dividend payout ratio (DPR) is presently 13.61%.

EVTC has been the subject of a number of analyst reports. Deutsche Bank boosted their price objective on shares of Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Thursday, July 26th. Raymond James upgraded shares of Evertec from a “market perform” rating to an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Evertec from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $21.33.

In other news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $23.55, for a total value of $35,325.00. Following the completion of the transaction, the insider now owns 24,915 shares in the company, valued at $586,748.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miguel Vizcarrondo sold 20,000 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $24.31, for a total transaction of $486,200.00. Following the transaction, the insider now owns 195,887 shares of the company’s stock, valued at approximately $4,762,012.97. The disclosure for this sale can be found here. Insiders sold 73,500 shares of company stock valued at $1,759,985 in the last quarter. Corporate insiders own 0.76% of the company’s stock.

Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Earnings History for Evertec (NYSE:EVTC)

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