$0.10 Earnings Per Share Expected for Moneygram International Inc (MGI) This Quarter

Equities research analysts expect that Moneygram International Inc (NASDAQ:MGI) will announce earnings of $0.10 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Moneygram International’s earnings, with estimates ranging from $0.03 to $0.17. Moneygram International reported earnings per share of $0.26 in the same quarter last year, which would indicate a negative year over year growth rate of 61.5%. The company is expected to issue its next earnings report on Friday, March 15th.

According to Zacks, analysts expect that Moneygram International will report full year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.78. For the next financial year, analysts anticipate that the company will report earnings of $0.48 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Moneygram International.

Moneygram International (NASDAQ:MGI) last released its quarterly earnings data on Thursday, November 8th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. Moneygram International had a negative net margin of 4.24% and a negative return on equity of 10.35%. The firm had revenue of $347.20 million for the quarter, compared to analyst estimates of $378.73 million. Moneygram International’s revenue for the quarter was up 14.1% compared to the same quarter last year.

MGI has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Monday, August 6th. Zacks Investment Research raised shares of Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Friday, August 10th. BidaskClub raised shares of Moneygram International from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 30th. Evercore ISI lowered shares of Moneygram International from an “in-line” rating to an “underperform” rating in a research note on Friday, November 9th. Finally, Barclays initiated coverage on shares of Moneygram International in a research note on Wednesday, November 14th. They issued an “underweight” rating and a $2.00 price objective on the stock. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus price target of $5.08.

Shares of Moneygram International stock traded down $0.03 during trading hours on Thursday, reaching $2.19. The company’s stock had a trading volume of 400 shares, compared to its average volume of 854,277. Moneygram International has a one year low of $2.02 and a one year high of $14.32. The firm has a market capitalization of $121.24 million, a price-to-earnings ratio of 2.57 and a beta of 1.94.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGI. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Moneygram International by 1,349.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 341,088 shares of the financial services provider’s stock valued at $2,282,000 after purchasing an additional 317,555 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Moneygram International by 5.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,875 shares of the financial services provider’s stock worth $1,872,000 after acquiring an additional 15,075 shares during the period. NJ State Employees Deferred Compensation Plan raised its position in Moneygram International by 11.1% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 100,000 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 10,000 shares during the period. LSV Asset Management raised its position in Moneygram International by 74.3% in the second quarter. LSV Asset Management now owns 242,362 shares of the financial services provider’s stock worth $1,621,000 after acquiring an additional 103,300 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Moneygram International by 9.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 151,644 shares of the financial services provider’s stock worth $1,015,000 after acquiring an additional 13,041 shares during the period. 84.07% of the stock is currently owned by institutional investors.

About Moneygram International

MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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