Euronet Worldwide (NASDAQ:EEFT) Sets New 52-Week Low – Should You Sell?

Euronet Worldwide, Inc. (NASDAQ:EEFT) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $62.32 and last traded at $62.3690, with a volume of 108346 shares. The stock had previously closed at $62.87.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EEFT. Wolfe Research cut their price target on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating for the company in a report on Tuesday, August 25th. DA Davidson restated a “buy” rating and issued a $102.00 price target on shares of Euronet Worldwide in a research report on Friday, July 10th. Weiss Ratings cut shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC lifted their target price on Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Euronet Worldwide currently has a consensus rating of “Hold” and an average price target of $94.00.

Euronet Worldwide Stock Performance

The firm has a 50 day moving average price of $71.15 and a 200-day moving average price of $70.89. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.51 and a beta of 0.83.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.During the same period last year, the company earned $2.56 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Euronet Worldwide

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new stake in shares of Euronet Worldwide in the 2nd quarter valued at about $22,221,000. Weitz Investment Management Inc. purchased a new position in Euronet Worldwide in the fourth quarter valued at about $12,178,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Euronet Worldwide in the first quarter valued at $1,795,000. Walleye Trading LLC acquired a new position in Euronet Worldwide during the second quarter worth about $1,068,000. Finally, Reinhart Partners LLC. lifted its stake in Euronet Worldwide by 24.9% in the 4th quarter. Reinhart Partners LLC. now owns 1,348,340 shares of the business services provider’s stock valued at $102,623,000 after buying an additional 268,542 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

About Euronet Worldwide

Euronet Worldwide, Inc (NASDAQ: EEFT) is a global electronic payments and transaction processing company. Headquartered in Leawood, Kansas, the company provides payment and financial technology services to financial institutions, retailers, mobile operators, money transfer providers and consumers.

Euronet operates through three principal business areas: electronic funds transfer processing, epay and money transfer. Its electronic funds transfer services include automated teller machine and point-of-sale processing, electronic payment solutions, outsourced transaction processing and related network services.