Evertec (EVTC) Updates FY 2019 Earnings Guidance

Evertec (NYSE:EVTC) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.80-1.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.96. The company issued revenue guidance of $464-476 million, compared to the consensus revenue estimate of $473.41 million.

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods assumed coverage on Evertec in a report on Thursday, December 6th. They issued an outperform rating and a $32.00 target price on the stock. Raymond James boosted their target price on Evertec from $28.00 to $33.00 and gave the company an outperform rating in a report on Monday, November 12th. Finally, Zacks Investment Research lowered Evertec from a buy rating to a hold rating in a report on Tuesday, January 1st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $26.14.

Shares of NYSE:EVTC traded up $0.31 during trading on Wednesday, reaching $30.65. The company had a trading volume of 742,433 shares, compared to its average volume of 557,251. The firm has a market cap of $2.10 billion, a P/E ratio of 20.85 and a beta of 0.65. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.52. Evertec has a fifty-two week low of $15.85 and a fifty-two week high of $31.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, February 26th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, February 25th. Evertec’s dividend payout ratio is presently 13.61%.

In related news, insider Carlos J. Ramirez sold 44,378 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $26.34, for a total transaction of $1,168,916.52. Following the transaction, the insider now owns 67,409 shares of the company’s stock, valued at $1,775,553.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tere Loubriel sold 2,900 shares of the company’s stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $27.04, for a total value of $78,416.00. Following the transaction, the director now directly owns 18,879 shares in the company, valued at approximately $510,488.16. The disclosure for this sale can be found here. Insiders have sold 87,278 shares of company stock worth $2,340,533 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

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About Evertec

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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