Evertec Inc (EVTC) Expected to Post Quarterly Sales of $108.69 Million

Equities analysts forecast that Evertec Inc (NYSE:EVTC) will announce $108.69 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Evertec’s earnings. The lowest sales estimate is $107.67 million and the highest is $109.71 million. Evertec reported sales of $102.73 million in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, October 30th.

On average, analysts expect that Evertec will report full-year sales of $443.97 million for the current financial year, with estimates ranging from $441.58 million to $445.82 million. For the next fiscal year, analysts forecast that the company will post sales of $465.62 million, with estimates ranging from $453.34 million to $473.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Evertec.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $113.35 million during the quarter, compared to the consensus estimate of $111.77 million. Evertec had a net margin of 12.91% and a return on equity of 64.95%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share.

EVTC has been the subject of a number of recent research reports. ValuEngine upgraded Evertec from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Morgan Stanley increased their price objective on Evertec from $19.00 to $23.00 and gave the company a “$22.95” rating in a report on Thursday, July 19th. Zacks Investment Research downgraded Evertec from a “buy” rating to a “hold” rating in a report on Monday, June 25th. Finally, Deutsche Bank increased their price objective on Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Evertec has an average rating of “Hold” and an average price target of $21.33.

NYSE EVTC opened at $24.55 on Friday. The firm has a market capitalization of $1.75 billion, a P/E ratio of 16.70 and a beta of 1.27. Evertec has a twelve month low of $12.60 and a twelve month high of $25.55. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.63 and a quick ratio of 1.63.

In other Evertec news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $23.55, for a total transaction of $35,325.00. Following the sale, the insider now owns 24,915 shares of the company’s stock, valued at $586,748.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Miguel Vizcarrondo sold 30,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $23.76, for a total transaction of $712,800.00. Following the sale, the executive vice president now directly owns 215,887 shares in the company, valued at approximately $5,129,475.12. The disclosure for this sale can be found here. Insiders sold 73,500 shares of company stock valued at $1,759,985 over the last 90 days. 0.76% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EVTC. BlackRock Inc. boosted its position in Evertec by 99.6% during the first quarter. BlackRock Inc. now owns 7,779,713 shares of the business services provider’s stock valued at $127,198,000 after acquiring an additional 3,881,373 shares during the last quarter. FMR LLC boosted its position in Evertec by 37.5% during the second quarter. FMR LLC now owns 6,727,331 shares of the business services provider’s stock valued at $146,992,000 after acquiring an additional 1,835,720 shares during the last quarter. Copper Rock Capital Partners LLC bought a new stake in Evertec during the second quarter valued at $21,616,000. Waddell & Reed Financial Inc. bought a new stake in Evertec during the second quarter valued at $14,729,000. Finally, Castleark Management LLC bought a new stake in Evertec during the second quarter valued at $12,315,000. 79.11% of the stock is currently owned by institutional investors and hedge funds.

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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