$417.61 Million in Sales Expected for Moneygram International, Inc. (NASDAQ:MGI) This Quarter

Analysts expect Moneygram International, Inc. (NASDAQ:MGI) to announce $417.61 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Moneygram International’s earnings, with the highest sales estimate coming in at $428.00 million and the lowest estimate coming in at $409.20 million. Moneygram International reported sales of $383.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The firm is expected to report its next quarterly earnings report before the market opens on Friday, July 28th.

According to Zacks, analysts expect that Moneygram International will report full-year sales of $417.61 million for the current financial year, with estimates ranging from $1.63 billion to $1.73 billion. For the next financial year, analysts expect that the firm will report sales of $1.78 billion per share, with estimates ranging from $1.75 billion to $1.82 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Moneygram International.

Moneygram International (NASDAQ:MGI) last posted its earnings results on Thursday, May 4th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $386.10 million during the quarter, compared to analyst estimates of $387.92 million. Moneygram International had a net margin of 1.87% and a negative return on equity of 12.41%. Moneygram International’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS.

A number of equities research analysts have commented on MGI shares. ValuEngine raised shares of Moneygram International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley reissued an “equal weight” rating and set a $18.00 price objective (up previously from $15.00) on shares of Moneygram International in a report on Monday, June 19th. Northland Securities reissued a “hold” rating and set a $17.39 price objective on shares of Moneygram International in a report on Friday, June 30th. Zacks Investment Research lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, BidaskClub lowered shares of Moneygram International from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.93.

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A number of large investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Moneygram International by 34.1% in the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock worth $133,000 after buying an additional 2,015 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Moneygram International during the fourth quarter valued at about $144,000. Teton Advisors Inc. acquired a new position in shares of Moneygram International during the first quarter valued at about $168,000. Engineers Gate Manager LP acquired a new position in shares of Moneygram International during the first quarter valued at about $192,000. Finally, Havens Advisors LLC acquired a new position in shares of Moneygram International during the first quarter valued at about $197,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Moneygram International (NASDAQ MGI) opened at 16.32 on Tuesday. The firm’s 50-day moving average is $16.99 and its 200-day moving average is $15.73. Moneygram International has a 1-year low of $5.83 and a 1-year high of $17.92. The firm has a market capitalization of $881.88 million, a price-to-earnings ratio of 37.09 and a beta of 1.94.

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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