FY2024 EPS Forecast for CPI Card Group Reduced by Analyst

CPI Card Group Inc. (NASDAQ:PMTS) – Stock analysts at Roth Capital dropped their FY2024 earnings per share estimates for shares of CPI Card Group in a research report issued to clients and investors on Wednesday, November 6th. Roth Capital analyst C. Irwin now forecasts that the company will post earnings per share of $1.78 for the year, down from their previous estimate of $2.43. The consensus estimate for CPI Card Group’s current full-year earnings is $2.06 per share.

CPI Card Group (NASDAQ:PMTS) last posted its earnings results on Monday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The business had revenue of $118.82 million for the quarter, compared to analysts’ expectations of $111.85 million. CPI Card Group had a negative return on equity of 35.79% and a net margin of 4.11%. During the same quarter in the previous year, the firm earned $0.55 EPS.

Separately, Lake Street Capital boosted their target price on CPI Card Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th.

CPI Card Group Stock Up 2.1 %

PMTS stock opened at $27.36 on Friday. The business has a 50 day moving average price of $25.06 and a 200 day moving average price of $25.54. The stock has a market cap of $305.34 million, a price-to-earnings ratio of 17.99 and a beta of 1.21. CPI Card Group has a fifty-two week low of $12.65 and a fifty-two week high of $31.00.

Insiders Place Their Bets

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of CPI Card Group stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the transaction, the insider now owns 4,813,977 shares of the company’s stock, valued at $101,093,517. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Sonya Vollmer sold 3,660 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.10, for a total value of $91,866.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.00, for a total value of $28,980,000.00. Following the completion of the transaction, the insider now directly owns 4,813,977 shares in the company, valued at approximately $101,093,517. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of CPI Card Group by 32.8% in the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock valued at $172,000 after purchasing an additional 1,555 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of CPI Card Group in the third quarter valued at approximately $205,000. Privium Fund Management UK Ltd acquired a new position in shares of CPI Card Group in the second quarter valued at approximately $257,000. Ritholtz Wealth Management purchased a new stake in shares of CPI Card Group in the third quarter valued at approximately $449,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CPI Card Group by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 23,979 shares of the company’s stock valued at $653,000 after buying an additional 5,783 shares in the last quarter. Institutional investors and hedge funds own 22.08% of the company’s stock.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.