International Money Express (NASDAQ:IMXI) Updates Q2 2024 Earnings Guidance

International Money Express (NASDAQ:IMXI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.540-0.580 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $171.5 million-$176.8 million, compared to the consensus revenue estimate of $176.1 million. International Money Express also updated its FY 2024 guidance to 2.130-2.310 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IMXI. Monness Crespi & Hardt began coverage on International Money Express in a report on Wednesday, March 20th. They set a buy rating and a $27.00 price target for the company. BMO Capital Markets reduced their price objective on International Money Express from $30.00 to $29.00 and set an outperform rating for the company in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $24.00.

International Money Express Price Performance

NASDAQ IMXI traded up $0.49 during trading hours on Wednesday, reaching $20.08. The company’s stock had a trading volume of 296,902 shares, compared to its average volume of 229,447. The firm’s 50-day moving average price is $21.26 and its 200-day moving average price is $20.76. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.37. International Money Express has a 1 year low of $15.76 and a 1 year high of $26.25. The company has a market capitalization of $677.30 million, a price-to-earnings ratio of 12.02 and a beta of 0.76.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. International Money Express had a return on equity of 42.30% and a net margin of 9.03%. The company had revenue of $171.78 million for the quarter, compared to analysts’ expectations of $175.55 million. On average, equities research analysts predict that International Money Express will post 2.05 EPS for the current fiscal year.

Insider Transactions at International Money Express

In other news, insider Joseph Aguilar sold 23,700 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $21.13, for a total transaction of $500,781.00. Following the transaction, the insider now owns 105,677 shares of the company’s stock, valued at approximately $2,232,955.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

International Money Express Company Profile

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.