EVERTEC (EVTC) Scheduled to Post Earnings on Wednesday

EVERTEC (NYSE:EVTC) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect EVERTEC to post earnings of $0.67 per share for the quarter. EVERTEC has set its FY24 guidance at $2.82 to $2.94 EPS and its FY 2024 guidance at 2.820-2.940 EPS.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. The business had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. On average, analysts expect EVERTEC to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

EVERTEC Price Performance

Shares of NYSE:EVTC opened at $38.66 on Wednesday. The company has a 50-day simple moving average of $38.70 and a 200-day simple moving average of $38.17. EVERTEC has a one year low of $31.55 and a one year high of $42.21. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.22 and a beta of 1.20.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. EVERTEC’s payout ratio is 16.53%.

Insider Buying and Selling

In related news, Director Frank G. D’angelo sold 16,000 shares of the 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 $388,523.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of the company’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 transaction, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EVTC shares. Morgan Stanley upped their target price on shares of EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Tuesday, February 27th. StockNews.com cut shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, EVERTEC presently has a consensus rating of “Hold” and a consensus price target of $41.33.

About EVERTEC

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.