Brokerages Expect Ebix Inc. (NASDAQ:EBIX) to Announce $0.63 EPS
Ebix Inc. (NASDAQ:EBIX) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a 1 year consensus price target of $65.00 for the company and are expecting that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ebix an industry rank of 211 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Ebix from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Thursday, August 11th.
Ebix (NASDAQ:EBIX) opened at 55.83 on Monday. The firm’s 50 day moving average is $56.53 and its 200 day moving average is $49.85. Ebix has a 1-year low of $24.72 and a 1-year high of $59.17. The stock has a market capitalization of $1.81 billion, a P/E ratio of 21.54 and a beta of 1.68.
Ebix (NASDAQ:EBIX) last released its quarterly earnings results on Monday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.07. The business earned $72.60 million during the quarter, compared to the consensus estimate of $71.20 million. Ebix had a return on equity of 21.32% and a net margin of 31.11%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, equities research analysts anticipate that Ebix will post $2.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.54%. Ebix’s dividend payout ratio (DPR) is presently 11.49%.
Several hedge funds and other institutional investors have recently made changes to their positions in EBIX. BlackRock Inc. increased its position in shares of Ebix by 42.0% in the second quarter. BlackRock Inc. now owns 2,449 shares of the company’s stock worth $118,000 after buying an additional 724 shares during the period. Bank of Montreal Can bought a new position in shares of Ebix during the second quarter worth about $127,000. PineBridge Investments L.P. increased its position in shares of Ebix by 4.7% in the second quarter. PineBridge Investments L.P. now owns 3,241 shares of the company’s stock worth $155,000 after buying an additional 146 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Ebix during the second quarter worth about $158,000. Finally, Teacher Retirement System of Texas increased its position in shares of Ebix by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,725 shares of the company’s stock worth $178,000 after buying an additional 452 shares during the period. Institutional investors own 68.88% of the company’s stock.
Ebix Company Profile
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ebix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.