Qiwi (NASDAQ:QIWI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Qiwi (NASDAQ:QIWI) from a strong-buy rating to a hold rating in a report issued on Thursday 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. “

A number of other research firms also recently weighed in on QIWI. ValuEngine raised Qiwi from a strong sell rating to a sell rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upgraded Qiwi from a neutral rating to an overweight rating and increased their target price for the stock from $19.00 to $20.00 in a research report on Thursday, May 16th. Finally, BidaskClub raised Qiwi from a hold rating to a buy rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $23.50.



QIWI stock opened at $22.96 on Thursday. Qiwi has a fifty-two week low of $11.61 and a fifty-two week high of $24.40. The business’s 50-day moving average is $20.47 and its two-hundred day moving average is $16.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.27 and a current ratio of 1.30. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 17.28 and a beta of 1.14.

The firm also recently declared a dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 30th will be paid a dividend of $0.28 per share. This is a positive change from Qiwi’s previous dividend of $0.21. The ex-dividend date of this dividend is Thursday, August 29th. Qiwi’s dividend payout ratio (DPR) is currently 29.17%.

Several hedge funds have recently modified their holdings of QIWI. JPMorgan Chase & Co. lifted its stake in shares of Qiwi by 855.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,364,894 shares of the credit services provider’s stock worth $19,641,000 after acquiring an additional 1,222,072 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Qiwi by 159.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,309,778 shares of the credit services provider’s stock worth $25,635,000 after acquiring an additional 804,753 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Qiwi by 62.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,271,138 shares of the credit services provider’s stock worth $24,876,000 after acquiring an additional 486,758 shares during the last quarter. ETF Managers Group LLC lifted its stake in shares of Qiwi by 247.1% during the 2nd quarter. ETF Managers Group LLC now owns 607,652 shares of the credit services provider’s stock worth $12,165,000 after acquiring an additional 432,562 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of Qiwi by 143.6% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 341,000 shares of the credit services provider’s stock worth $6,644,000 after acquiring an additional 201,000 shares during the last quarter. 27.36% of the stock is owned by hedge funds and other institutional investors.

Qiwi Company Profile

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.

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