Qiwi (NASDAQ:QIWI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Qiwi (NASDAQ:QIWI) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

Several other research firms have also recently issued reports on QIWI. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet raised Viewray from a d+ rating to a c- rating in a research report on Thursday, March 21st. BidaskClub cut Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of Cisco Systems in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Qiwi has an average rating of Hold and a consensus target price of $20.33.



Shares of QIWI opened at $19.67 on Wednesday. The stock has a 50 day moving average of $19.32. Qiwi has a 52 week low of $11.61 and a 52 week high of $20.90. The company has a market cap of $1.20 billion, a PE ratio of 18.21 and a beta of 1.16.

Qiwi (NASDAQ:QIWI) last issued its quarterly earnings results on Thursday, May 16th. The credit services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Qiwi had a return on equity of 16.86% and a net margin of 12.20%. The firm had revenue of $82.90 million for the quarter. As a group, research analysts forecast that Qiwi will post 1.56 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in QIWI. JPMorgan Chase & Co. lifted its position in Qiwi by 855.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,364,894 shares of the credit services provider’s stock valued at $19,641,000 after acquiring an additional 1,222,072 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Qiwi by 376.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 249,959 shares of the credit services provider’s stock valued at $3,597,000 after buying an additional 197,510 shares during the last quarter. Millennium Management LLC raised its stake in Qiwi by 202.9% during the 4th quarter. Millennium Management LLC now owns 273,559 shares of the credit services provider’s stock valued at $3,868,000 after buying an additional 183,251 shares during the last quarter. River & Mercantile Asset Management LLP raised its stake in Qiwi by 39.1% during the 4th quarter. River & Mercantile Asset Management LLP now owns 568,576 shares of the credit services provider’s stock valued at $8,031,000 after buying an additional 159,800 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Qiwi by 44.2% during the 1st quarter. Acadian Asset Management LLC now owns 505,025 shares of the credit services provider’s stock valued at $7,268,000 after buying an additional 154,791 shares during the last quarter. 24.41% of the stock is currently owned by institutional investors and hedge funds.

About Qiwi

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

Recommended Story: How is the LIBOR rate calculated?

Get a free copy of the Zacks research report on Qiwi (QIWI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Qiwi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qiwi and related companies with MarketBeat.com's FREE daily email newsletter.