EVERTEC (NYSE:EVTC) Issues Earnings Results, Beats Estimates By $0.04 EPS

EVERTEC (NYSE:EVTCGet Rating) released its earnings results on Thursday. The business services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04, Briefing.com reports. The business had revenue of $160.60 million during the quarter, compared to the consensus estimate of $150.22 million. EVERTEC had a net margin of 24.33% and a return on equity of 39.19%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. EVERTEC updated its FY 2022 guidance to $2.52-$2.60 EPS and its FY22 guidance to $2.52-$2.60 EPS.

EVERTEC Stock Performance

Shares of NYSE EVTC traded down $2.71 during mid-day trading on Friday, reaching $36.87. 285,519 shares of the company were exchanged, compared to its average volume of 166,248. The company’s 50-day simple moving average is $36.88 and its 200-day simple moving average is $39.32. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $2.64 billion, a P/E ratio of 18.07 and a beta of 0.91. EVERTEC has a twelve month low of $33.57 and a twelve month high of $51.06.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Monday, August 8th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, August 5th. EVERTEC’s dividend payout ratio is presently 9.80%.

Insider Transactions at EVERTEC

In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 9,238 shares of EVERTEC stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $37.57, for a total value of $347,071.66. Following the completion of the sale, the executive vice president now owns 30,020 shares in the company, valued at approximately $1,127,851.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.44% of the stock is currently owned by corporate insiders.

Institutional Trading of EVERTEC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC acquired a new stake in EVERTEC in the 1st quarter worth about $154,000. Pearl River Capital LLC bought a new position in EVERTEC in the 1st quarter valued at about $236,000. Dynamic Technology Lab Private Ltd bought a new position in EVERTEC in the 1st quarter valued at about $357,000. Vident Investment Advisory LLC increased its holdings in EVERTEC by 4.6% in the 1st quarter. Vident Investment Advisory LLC now owns 10,040 shares of the business services provider’s stock valued at $411,000 after buying an additional 444 shares during the period. Finally, Private Advisor Group LLC increased its holdings in EVERTEC by 27.1% in the 1st quarter. Private Advisor Group LLC now owns 15,245 shares of the business services provider’s stock valued at $624,000 after buying an additional 3,249 shares during the period. Institutional investors and hedge funds own 83.26% of the company’s stock.

Analysts Set New Price Targets

EVTC has been the subject of a number of analyst reports. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Saturday, May 7th. Keefe, Bruyette & Woods cut their price target on shares of EVERTEC from $50.00 to $47.00 in a research note on Monday, July 11th.

EVERTEC Company Profile

(Get Rating)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.

Featured Articles

Earnings History for EVERTEC (NYSE:EVTC)

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