Moneygram International (NASDAQ:MGI) Announces Quarterly Earnings Results

Moneygram International (NASDAQ:MGI) issued its quarterly earnings results on Thursday. The financial services provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.08, Fidelity Earnings reports. The company had revenue of $323.80 million during the quarter, compared to the consensus estimate of $342.31 million. Moneygram International had a negative return on equity of 4.67% and a negative net margin of 3.22%.

NASDAQ MGI traded up $0.17 during trading hours on Friday, hitting $2.78. The company had a trading volume of 2,109,592 shares, compared to its average volume of 1,379,030. Moneygram International has a fifty-two week low of $1.33 and a fifty-two week high of $6.84. The stock has a market cap of $147.18 million, a P/E ratio of 6.47 and a beta of 2.98. The business’s 50 day moving average is $2.34.

Several brokerages have weighed in on MGI. Northland Securities reiterated a “buy” rating on shares of Moneygram International in a report on Monday, July 1st. ValuEngine upgraded Moneygram International from a “strong sell” rating to a “sell” rating in a report on Thursday. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.19.

Moneygram International Company Profile

MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

Read More: How to Invest in a Bull Market

Earnings History for Moneygram International (NASDAQ:MGI)

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