$415.38 Million in Sales Expected for Moneygram International, Inc. (MGI) This Quarter
Equities research analysts predict that Moneygram International, Inc. (NASDAQ:MGI) will report $415.38 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Moneygram International’s earnings, with the highest sales estimate coming in at $420.05 million and the lowest estimate coming in at $410.70 million. Moneygram International reported sales of $383.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.4%. The business is expected to issue its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Moneygram International will report full year sales of $415.38 million for the current year, with estimates ranging from $1.63 billion to $1.66 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.76 billion per share, with estimates ranging from $1.74 billion to $1.78 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Moneygram International.
Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Monday, August 7th. The financial services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $417.61 million. Moneygram International had a negative return on equity of 14.11% and a net margin of 2.03%. During the same quarter in the previous year, the business earned $0.15 EPS.
MGI has been the topic of several research reports. BidaskClub lowered Moneygram International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 target price (up from $15.00) on shares of Moneygram International in a research report on Monday, June 19th. Northland Securities reaffirmed a “hold” rating on shares of Moneygram International in a research report on Tuesday, September 5th. Finally, ValuEngine lowered Moneygram International from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Moneygram International presently has an average rating of “Hold” and an average price target of $16.21.
Hedge funds have recently modified their holdings of the business. Citigroup Inc. increased its position in Moneygram International by 168.2% in the 2nd quarter. Citigroup Inc. now owns 270,593 shares of the financial services provider’s stock worth $4,668,000 after purchasing an additional 169,706 shares during the last quarter. UBS Group AG increased its position in Moneygram International by 227.1% in the 1st quarter. UBS Group AG now owns 37,380 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 25,953 shares during the last quarter. Morgan Stanley increased its position in Moneygram International by 359.9% in the 1st quarter. Morgan Stanley now owns 405,435 shares of the financial services provider’s stock worth $6,815,000 after purchasing an additional 317,280 shares during the last quarter. American International Group Inc. increased its position in Moneygram International by 7.1% in the 1st quarter. American International Group Inc. now owns 18,227 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 1,208 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in Moneygram International by 14.3% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 628,400 shares of the financial services provider’s stock worth $10,840,000 after purchasing an additional 78,700 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.
Shares of Moneygram International (NASDAQ:MGI) opened at 15.75 on Friday. Moneygram International has a 12-month low of $5.83 and a 12-month high of $17.92. The firm has a 50-day moving average price of $15.98 and a 200 day moving average price of $16.65. The stock has a market cap of $853.87 million, a PE ratio of 32.41 and a beta of 1.96.
About Moneygram International
MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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