EVERTEC (NYSE:EVTC) Updates FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.08-3.15 for the period, compared to the consensus EPS estimate of $3.03. The company issued revenue guidance of $841-847 million, compared to the consensus revenue estimate of $850.72 million. EVERTEC also updated its FY 2024 guidance to 3.080-3.150 EPS.

Wall Street Analyst Weigh In

Separately, Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and cut their target price for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

EVERTEC Stock Up 0.4 %

EVERTEC stock traded up $0.13 during midday trading on Friday, hitting $35.33. 375,498 shares of the stock were exchanged, compared to its average volume of 355,679. EVERTEC has a 52-week low of $28.76 and a 52-week high of $42.21. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. The business’s 50-day moving average price is $33.28 and its 200-day moving average price is $34.03. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. EVERTEC’s payout ratio is presently 15.63%.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.83% of the stock is currently owned by company insiders.

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.