Euronet Worldwide (EEFT) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Euronet Worldwide (NASDAQ:EEFT) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “

Several other analysts also recently issued reports on the company. William Blair downgraded Euronet Worldwide from an outperform rating to a market perform rating in a research note on Monday, December 18th. BidaskClub downgraded Euronet Worldwide from a hold rating to a sell rating in a research note on Friday, December 15th. Goldman Sachs Group assumed coverage on Euronet Worldwide in a research note on Thursday, December 14th. They issued a buy rating and a $110.00 price target on the stock. Piper Jaffray Companies reissued a buy rating and issued a $112.00 price target on shares of Euronet Worldwide in a research note on Sunday, October 22nd. Finally, Northland Securities reissued a buy rating and issued a $110.00 price target on shares of Euronet Worldwide in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $108.86.

Euronet Worldwide (NASDAQ EEFT) opened at $84.21 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.48. The firm has a market capitalization of $4,440.00, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. Euronet Worldwide has a twelve month low of $70.51 and a twelve month high of $101.07.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, October 19th. The business services provider reported $1.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.61. The firm had revenue of $637.90 million for the quarter, compared to analyst estimates of $595.09 million. Euronet Worldwide had a return on equity of 22.46% and a net margin of 9.63%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. equities analysts predict that Euronet Worldwide will post 4.33 EPS for the current year.

In related news, CEO Michael J. Brown sold 2,400 shares of Euronet Worldwide stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $100.00, for a total value of $240,000.00. Following the sale, the chief executive officer now owns 1,603,486 shares of the company’s stock, valued at $160,348,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rick Weller sold 12,400 shares of Euronet Worldwide stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $92.01, for a total value of $1,140,924.00. Following the completion of the sale, the chief financial officer now directly owns 80,285 shares in the company, valued at approximately $7,387,022.85. The disclosure for this sale can be found here. Insiders sold a total of 94,235 shares of company stock worth $9,201,216 in the last three months. Company insiders own 7.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC acquired a new position in Euronet Worldwide during the third quarter worth approximately $113,000. Fiduciary Trust Co. acquired a new position in Euronet Worldwide during the second quarter worth approximately $122,000. The Manufacturers Life Insurance Company increased its position in Euronet Worldwide by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock worth $149,000 after buying an additional 116 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Euronet Worldwide by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock worth $157,000 after buying an additional 167 shares during the last quarter. Finally, Turner Investments LLC acquired a new position in Euronet Worldwide during the third quarter worth approximately $174,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

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About Euronet Worldwide

Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.

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