CPI Card Group (NASDAQ:PMTS) Issues Quarterly Earnings Results, Misses Estimates By $0.52 EPS

Key Points

• CPI Card Group reported earnings of $0.04 per share, significantly missing the consensus estimate of $0.57 by $0.53 EPS.
• Following the earnings report, shares of CPI Card Group dropped by 26.5%, reaching $13.69 during midday trading.
• Despite poor earnings, CPI Card Group has a current average rating of "Buy" from analysts and an average price target of $36.75.

CPI Card Group (NASDAQ:PMTS - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.52), Zacks reports. The business had revenue of $129.75 million during the quarter, compared to analyst estimates of $132.96 million. CPI Card Group had a net margin of 2.66% and a negative return on equity of 58.00%.

CPI Card Group Trading Up 0.9%

Shares of CPI Card Group stock traded up $0.14 on Wednesday, hitting $16.20. The stock had a trading volume of 27,570 shares, compared to its average volume of 47,318. CPI Card Group has a 52-week low of $12.52 and a 52-week high of $35.19. The stock has a market cap of $183.71 million, a price-to-earnings ratio of 14.46 and a beta of 1.31. The company's 50 day moving average price is $21.51 and its 200 day moving average price is $24.87.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PMTS. DA Davidson cut their target price on CPI Card Group from $38.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday. Wall Street Zen upgraded CPI Card Group from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Lake Street Capital decreased their target price on CPI Card Group from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $34.00.

Institutional Trading of CPI Card Group

Several institutional investors and hedge funds have recently made changes to their positions in PMTS. Geode Capital Management LLC lifted its holdings in shares of CPI Card Group by 12.6% in the 2nd quarter. Geode Capital Management LLC now owns 125,500 shares of the company's stock valued at $2,977,000 after purchasing an additional 14,039 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of CPI Card Group in the 1st quarter valued at about $248,000. Finally, Jane Street Group LLC purchased a new stake in shares of CPI Card Group in the 1st quarter valued at about $223,000. 22.08% of the stock is owned by hedge funds and other institutional investors.

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.