Evertec Inc. (EVTC) Receives Consensus Rating of “Hold” from Analysts
Evertec Inc. (NYSE:EVTC) has been given an average rating of “Hold” by the eight analysts that are presently covering the stock. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.00.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, August 2nd. Compass Point increased their price target on shares of Evertec from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Deutsche Bank AG increased their price target on shares of Evertec from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, July 29th.
Evertec (NYSE:EVTC) opened at 15.75 on Friday. The stock has a 50 day moving average of $16.57 and a 200-day moving average of $15.64. The stock has a market cap of $1.18 billion, a P/E ratio of 13.76 and a beta of 1.12. Evertec has a 12 month low of $11.27 and a 12 month high of $19.26.
Evertec (NYSE:EVTC) last announced its earnings results on Thursday, July 28th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company earned $97.70 million during the quarter, compared to analyst estimates of $93.40 million. Evertec had a net margin of 19.59% and a return on equity of 118.58%. Evertec’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that Evertec will post $1.71 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Evertec by 54.0% in the first quarter. Renaissance Technologies LLC now owns 2,211,100 shares of the company’s stock valued at $30,911,000 after buying an additional 775,300 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Evertec during the first quarter valued at $157,000. TIAA CREF Investment Management LLC boosted its stake in shares of Evertec by 39.8% in the first quarter. TIAA CREF Investment Management LLC now owns 518,034 shares of the company’s stock valued at $7,242,000 after buying an additional 147,524 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Evertec by 6.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,630 shares of the company’s stock valued at $316,000 after buying an additional 1,330 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Evertec by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,683,066 shares of the company’s stock valued at $23,529,000 after buying an additional 6,464 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
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