EVERTEC (NYSE:EVTC) Issues FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.85-$2.94 for the period, compared to the consensus EPS estimate of $2.88. The company issued revenue guidance of $846-$854 million, compared to the consensus revenue estimate of $849.79 million.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of EVERTEC from a buy rating to a hold rating in a research note on Thursday, February 29th. Morgan Stanley raised their price target on shares of EVERTEC from $32.00 to $33.00 and gave the stock an underweight rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $41.33.

EVERTEC Stock Performance

NYSE EVTC traded up $0.09 during midday trading on Wednesday, hitting $37.62. The company had a trading volume of 297,531 shares, compared to its average volume of 316,180. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 2.26 and a beta of 1.20. The firm has a fifty day simple moving average of $38.34 and a two-hundred day simple moving average of $38.21. EVERTEC has a fifty-two week low of $31.56 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company had revenue of $194.62 million during the quarter, compared to analyst estimates of $179.86 million. EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. Equities analysts forecast that EVERTEC will post 2.33 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s payout ratio is 16.53%.

Insider Transactions at EVERTEC

In other news, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.