Qiwi (QIWI) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Qiwi (NASDAQ:QIWI) from a neutral rating to an overweight rating in a research note published on Thursday morning, Briefing.com Automated Import reports. JPMorgan Chase & Co. currently has $20.00 price target on the credit services provider’s stock, up from their prior price target of $19.00.

A number of other research analysts have also recently issued reports on the company. BidaskClub raised Qiwi from a sell rating to a hold rating in a report on Wednesday, May 15th. ValuEngine cut Qiwi from a sell rating to a strong sell rating in a report on Wednesday, May 1st. Zacks Investment Research raised Qiwi from a strong sell rating to a hold rating in a report on Wednesday, April 17th. Finally, TheStreet raised Qiwi from a c+ rating to a b- rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $18.00.

Shares of NASDAQ QIWI opened at $15.72 on Thursday. The firm has a market cap of $957.84 million, a price-to-earnings ratio of 16.38 and a beta of 1.52. Qiwi has a 52-week low of $11.61 and a 52-week high of $19.29.

Qiwi (NASDAQ:QIWI) last issued its quarterly earnings data on Thursday, May 16th. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.14. The company had revenue of $82.90 million during the quarter. Qiwi had a return on equity of 17.23% and a net margin of 12.20%. On average, equities research analysts anticipate that Qiwi will post 1.31 EPS for the current year.

The company also recently disclosed an annual dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 28th will be given a $0.28 dividend. This is a positive change from Qiwi’s previous annual dividend of $0.21. The ex-dividend date is Friday, May 24th.

A number of hedge funds have recently made changes to their positions in QIWI. Quantamental Technologies LLC acquired a new stake in Qiwi in the fourth quarter worth about $37,000. SEI Investments Co acquired a new stake in Qiwi in the first quarter worth about $60,000. Financial Gravity Companies Inc. acquired a new stake in Qiwi in the fourth quarter worth about $65,000. Smith Asset Management Group LP acquired a new stake in Qiwi in the fourth quarter worth about $101,000. Finally, New York State Common Retirement Fund acquired a new stake in Qiwi in the fourth quarter worth about $105,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

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.

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