EVERTEC (NYSE:EVTC – Get Rating) released its quarterly earnings results on Thursday. The business services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04, Briefing.com reports. The firm had revenue of $160.60 million during the quarter, compared to the consensus estimate of $150.22 million. EVERTEC had a return on equity of 43.09% and a net margin of 27.40%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 EPS. EVERTEC updated its FY 2022 guidance to $2.52-$2.60 EPS and its FY22 guidance to $2.52-$2.60 EPS.
EVERTEC Stock Performance
EVERTEC stock traded down $2.71 during mid-day trading on Friday, hitting $36.87. 285,518 shares of the company’s stock traded hands, compared to its average volume of 271,322. The firm has a 50 day simple moving average of $36.88 and a two-hundred day simple moving average of $39.32. EVERTEC has a fifty-two week low of $33.57 and a fifty-two week high of $51.06. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 16.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.95 and a quick ratio of 2.95.
EVERTEC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Monday, August 8th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, August 5th. EVERTEC’s dividend payout ratio is 8.89%.
Insider Buying and Selling at EVERTEC
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in EVERTEC by 32.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 39,026 shares of the business services provider’s stock worth $1,597,000 after buying an additional 9,536 shares during the period. Royal Bank of Canada increased its position in shares of EVERTEC by 2.3% in the first quarter. Royal Bank of Canada now owns 285,552 shares of the business services provider’s stock worth $11,689,000 after purchasing an additional 6,523 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of EVERTEC in the first quarter worth $357,000. First Republic Investment Management Inc. increased its position in shares of EVERTEC by 35.3% in the first quarter. First Republic Investment Management Inc. now owns 45,966 shares of the business services provider’s stock worth $1,881,000 after purchasing an additional 11,997 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of EVERTEC by 11.2% in the first quarter. Guggenheim Capital LLC now owns 20,014 shares of the business services provider’s stock worth $819,000 after purchasing an additional 2,011 shares during the period. Institutional investors own 83.26% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price objective on EVERTEC from $50.00 to $47.00 in a report on Monday, July 11th. StockNews.com downgraded EVERTEC from a “buy” rating to a “hold” rating in a report on Saturday, May 7th.
EVERTEC Company Profile
EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.
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