MoneyGram International Inc. (MGI) Receives Neutral Rating from Compass Point
Compass Point reissued their neutral rating on shares of MoneyGram International Inc. (NASDAQ:MGI) in a report released on Tuesday morning. The brokerage currently has a $8.00 price objective on the stock.
Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded MoneyGram International from an overweight rating to a neutral rating and set a $8.00 price target for the company. in a report on Tuesday, July 12th. William Blair restated an outperform rating on shares of MoneyGram International in a report on Tuesday, July 19th. Finally, Zacks Investment Research upgraded MoneyGram International from a hold rating to a strong-buy rating and set a $8.50 price target for the company in a report on Thursday, July 21st. Three analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $8.17.
MoneyGram International (NASDAQ:MGI) traded down 1.16% during midday trading on Tuesday, reaching $6.80. 10,342 shares of the company’s stock traded hands. The stock has a market cap of $363.43 million, a PE ratio of 68.00 and a beta of 1.69. MoneyGram International has a one year low of $4.68 and a one year high of $10.92. The stock’s 50 day moving average price is $7.10 and its 200-day moving average price is $6.76.
MoneyGram International (NASDAQ:MGI) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.06. The firm earned $383.70 million during the quarter, compared to the consensus estimate of $389.16 million. MoneyGram International had a negative return on equity of 10.13% and a net margin of 0.43%. MoneyGram International’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. Equities analysts predict that MoneyGram International will post $0.78 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in MGI. LSV Asset Management increased its stake in MoneyGram International by 95.2% in the second quarter. LSV Asset Management now owns 571,175 shares of the company’s stock valued at $3,912,000 after buying an additional 278,500 shares during the last quarter. Renaissance Technologies LLC increased its stake in MoneyGram International by 257.4% in the first quarter. Renaissance Technologies LLC now owns 268,791 shares of the company’s stock valued at $1,645,000 after buying an additional 193,580 shares during the last quarter. Spark Investment Management LLC increased its stake in MoneyGram International by 198.3% in the first quarter. Spark Investment Management LLC now owns 267,549 shares of the company’s stock valued at $1,637,000 after buying an additional 177,849 shares during the last quarter. Bank of Montreal Can acquired a new stake in MoneyGram International during the second quarter valued at approximately $1,144,000. Finally, Royce & Associates LP increased its stake in MoneyGram International by 98.0% in the second quarter. Royce & Associates LP now owns 196,403 shares of the company’s stock valued at $1,345,000 after buying an additional 97,200 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.
About MoneyGram International
MoneyGram International, Inc is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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