Evertec (NYSE:EVTC) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Evertec (NYSE:EVTC) from a buy rating to a hold rating in a report published on Wednesday morning, ValuEngine reports.

Several other research analysts also recently commented on the stock. Susquehanna Bancshares began coverage on shares of Evertec in a report on Friday, June 28th. They issued a positive rating and a $36.00 price target for the company. Zacks Investment Research cut shares of Evertec from a buy rating to a hold rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Evertec presently has an average rating of Buy and a consensus target price of $35.50.

NYSE:EVTC traded up $0.71 during trading hours on Wednesday, hitting $31.65. The stock had a trading volume of 216,593 shares, compared to its average volume of 440,512. The company has a 50 day simple moving average of $33.59 and a two-hundred day simple moving average of $31.23. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.80 and a quick ratio of 1.80. Evertec has a one year low of $22.41 and a one year high of $37.38. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 18.62 and a beta of 0.74.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.07. Evertec had a net margin of 20.55% and a return on equity of 60.49%. The firm had revenue of $122.55 million during the quarter, compared to the consensus estimate of $117.13 million. During the same period last year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Evertec will post 1.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 5th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, August 2nd. Evertec’s dividend payout ratio (DPR) is currently 11.76%.

Several institutional investors have recently bought and sold shares of the company. Jennison Associates LLC raised its position in Evertec by 0.9% in the 2nd quarter. Jennison Associates LLC now owns 33,780 shares of the business services provider’s stock worth $1,105,000 after purchasing an additional 316 shares during the period. Oregon Public Employees Retirement Fund raised its position in Evertec by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,783 shares of the business services provider’s stock worth $778,000 after purchasing an additional 400 shares during the period. USA Financial Portformulas Corp raised its position in Evertec by 8.1% in the 2nd quarter. USA Financial Portformulas Corp now owns 6,696 shares of the business services provider’s stock worth $186,000 after purchasing an additional 501 shares during the period. United Services Automobile Association raised its position in Evertec by 6.0% in the 2nd quarter. United Services Automobile Association now owns 20,867 shares of the business services provider’s stock worth $682,000 after purchasing an additional 1,182 shares during the period. Finally, US Bancorp DE raised its position in Evertec by 2,259.6% in the 2nd quarter. US Bancorp DE now owns 1,345 shares of the business services provider’s stock worth $44,000 after purchasing an additional 1,288 shares during the period. Hedge funds and other institutional investors own 79.49% of the company’s stock.

Evertec Company Profile

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

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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