DA Davidson Lowers Euronet Worldwide (NASDAQ:EEFT) to Neutral

DA Davidson downgraded shares of Euronet Worldwide (NASDAQ:EEFT) from a buy rating to a neutral rating in a report issued on Thursday morning, Benzinga reports. DA Davidson currently has $161.20 target price on the business services provider’s stock. DA Davidson also issued estimates for Euronet Worldwide’s Q2 2019 earnings at $1.64 EPS and Q1 2020 earnings at $0.98 EPS. The analysts noted that the move was a valuation call.

EEFT has been the subject of several other reports. Piper Jaffray Companies lifted their target price on Euronet Worldwide to $159.00 in a research note on Tuesday, March 5th. Wells Fargo & Co lifted their target price on Euronet Worldwide from $150.00 to $164.00 and gave the company an outperform rating in a research note on Thursday, April 11th. They noted that the move was a valuation call. Zacks Investment Research raised Euronet Worldwide from a hold rating to a buy rating and set a $145.00 target price for the company in a research note on Thursday, February 14th. Finally, BidaskClub cut Euronet Worldwide from a strong-buy rating to a buy rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Euronet Worldwide has an average rating of Buy and an average target price of $152.74.

EEFT stock opened at $158.83 on Thursday. Euronet Worldwide has a fifty-two week low of $81.68 and a fifty-two week high of $163.61. The firm has a market cap of $8.25 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.78 and a beta of 1.16. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.50.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.02. The firm had revenue of $577.50 million during the quarter, compared to analysts’ expectations of $602.73 million. Euronet Worldwide had a return on equity of 24.83% and a net margin of 9.40%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. As a group, equities research analysts expect that Euronet Worldwide will post 6.7 EPS for the current fiscal year.

In other news, VP Jeffrey B. Newman sold 5,461 shares of Euronet Worldwide stock in a transaction on Friday, June 7th. The stock was sold at an average price of $161.12, for a total value of $879,876.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Polianta Ltd bought a new position in shares of Euronet Worldwide in the 1st quarter worth $1,154,000. Polen Capital Management LLC boosted its position in shares of Euronet Worldwide by 46.7% in the 4th quarter. Polen Capital Management LLC now owns 5,635 shares of the business services provider’s stock worth $577,000 after purchasing an additional 1,793 shares during the last quarter. Mizuho Securities USA LLC bought a new position in shares of Euronet Worldwide in the 1st quarter worth $214,000. Columbus Circle Investors boosted its position in shares of Euronet Worldwide by 194.1% in the 1st quarter. Columbus Circle Investors now owns 283,292 shares of the business services provider’s stock worth $40,395,000 after purchasing an additional 186,971 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Euronet Worldwide in the 4th quarter worth $2,099,000. Institutional investors and hedge funds own 99.51% of the company’s stock.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.

Further Reading: Price to Earnings Ratio (PE)

Analyst Recommendations for Euronet Worldwide (NASDAQ:EEFT)

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