Euronet Worldwide (NASDAQ:EEFT) Downgraded by Citigroup to Neutral

Euronet Worldwide (NASDAQ:EEFT) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Briefing.com reports. They currently have a $110.00 target price on the business services provider’s stock, down from their prior target price of $118.00. Citigroup’s price objective suggests a potential upside of 11.03% from the stock’s current price.

EEFT has been the topic of several other research reports. Monness Crespi & Hardt boosted their price target on Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Euronet Worldwide in a report on Wednesday, September 4th. Oppenheimer assumed coverage on shares of Euronet Worldwide in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price target for the company. DA Davidson restated a “buy” rating and set a $136.00 price objective on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Euronet Worldwide Price Performance

NASDAQ EEFT opened at $99.07 on Friday. The firm’s 50 day moving average is $100.50 and its 200-day moving average is $104.61. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $4.54 billion, a PE ratio of 17.44 and a beta of 1.46. Euronet Worldwide has a 12-month low of $75.25 and a 12-month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.21. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The company had revenue of $986.20 million during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $1.84 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Euronet Worldwide will post 7.88 earnings per share for the current fiscal year.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the transaction, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at $1,276,095.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Euronet Worldwide news, CEO Juan Bianchi sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the sale, the chief executive officer now owns 12,440 shares in the company, valued at $1,276,095.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas A. Mcdonnell purchased 3,206 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $93.86 per share, with a total value of $300,915.16. Following the completion of the purchase, the director now directly owns 90,000 shares in the company, valued at $8,447,400. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Euronet Worldwide

A number of hedge funds have recently made changes to their positions in EEFT. Clearbridge Investments LLC boosted its position in Euronet Worldwide by 4.5% during the 1st quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock worth $62,337,000 after buying an additional 24,566 shares during the period. LSV Asset Management acquired a new position in shares of Euronet Worldwide in the first quarter worth approximately $1,638,000. Ellsworth Advisors LLC bought a new stake in Euronet Worldwide in the second quarter valued at approximately $514,000. SG Capital Management LLC boosted its holdings in Euronet Worldwide by 106.8% in the first quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock valued at $4,610,000 after acquiring an additional 21,654 shares during the last quarter. Finally, New South Capital Management Inc. increased its position in Euronet Worldwide by 21.8% during the 1st quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock valued at $59,188,000 after purchasing an additional 96,278 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.