Evertec Inc (EVTC) Expected to Announce Quarterly Sales of $117.59 Million

Wall Street analysts forecast that Evertec Inc (NYSE:EVTC) will report sales of $117.59 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Evertec’s earnings. The lowest sales estimate is $116.40 million and the highest is $118.77 million. Evertec posted sales of $113.35 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.7%. The firm is expected to report its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that Evertec will report full year sales of $473.80 million for the current year, with estimates ranging from $472.80 million to $476.25 million. For the next fiscal year, analysts forecast that the business will post sales of $495.49 million, with estimates ranging from $490.18 million to $498.08 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Evertec.

Evertec (NYSE:EVTC) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Evertec had a net margin of 19.44% and a return on equity of 61.11%. The company had revenue of $118.84 million during the quarter, compared to the consensus estimate of $116.82 million. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.

Separately, Zacks Investment Research downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Evertec presently has an average rating of “Buy” and an average price target of $29.60.

Shares of NYSE EVTC traded down $0.24 during midday trading on Thursday, reaching $28.16. The company’s stock had a trading volume of 589,600 shares, compared to its average volume of 493,727. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.41. Evertec has a fifty-two week low of $21.20 and a fifty-two week high of $31.63. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 16.56 and a beta of 0.71.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 6th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.20 annualized dividend and a yield of 0.71%. Evertec’s dividend payout ratio is currently 11.76%.

In other Evertec news, insider Diana I. Rivera-Ramirez sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $27.10, for a total transaction of $81,300.00. Following the completion of the transaction, the insider now directly owns 25,637 shares in the company, valued at $694,762.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Morgan M. Schuessler sold 152,221 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $27.01, for a total transaction of $4,111,489.21. Following the transaction, the chief executive officer now owns 539,102 shares of the company’s stock, valued at $14,561,145.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,661 shares of company stock valued at $5,056,655. Company insiders own 0.63% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EVTC. Nkcfo LLC acquired a new position in Evertec during the fourth quarter valued at approximately $29,000. Quantamental Technologies LLC bought a new stake in shares of Evertec during the fourth quarter worth $46,000. Advisor Group Inc. grew its stake in shares of Evertec by 1,316.7% during the first quarter. Advisor Group Inc. now owns 2,465 shares of the business services provider’s stock worth $69,000 after buying an additional 2,291 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Evertec during the first quarter worth $83,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Evertec during the first quarter worth $84,000. Institutional investors and hedge funds own 77.25% 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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