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Deluxe (NYSE:DLX) Posts Earnings Results, Beats Expectations By $0.17 EPS

Deluxe logo with Business Services background

Key Points

  • Deluxe Corporation reported earnings of $0.88 per share, exceeding analysts' expectations by $0.17 while revenue was slightly below forecast at $521.30 million.
  • The company announced a quarterly dividend of $0.30 per share, representing an annualized dividend yield of 6.3% and a high dividend payout ratio of 93.02%.
  • Institutional investors own 93.90% of Deluxe's stock, with notable increases in holdings from firms like Royal Bank of Canada and AQR Capital Management.
  • Want stock alerts on Deluxe? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Deluxe (NYSE:DLX - Get Free Report) issued its quarterly earnings data on Wednesday. The business services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.17, Briefing.com reports. The business had revenue of $521.30 million for the quarter, compared to analysts' expectations of $526.93 million. Deluxe had a net margin of 2.75% and a return on equity of 21.12%. The business's revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS.

Deluxe Price Performance

Shares of NYSE:DLX traded down $0.07 during midday trading on Friday, reaching $19.14. 731,794 shares of the company's stock traded hands, compared to its average volume of 377,128. The company has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $16.40. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.84 and a current ratio of 0.94. The company has a market cap of $856.50 million, a P/E ratio of 14.84, a PEG ratio of 0.55 and a beta of 1.49. Deluxe has a 1 year low of $13.61 and a 1 year high of $24.45.

Deluxe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. Deluxe's dividend payout ratio (DPR) is 93.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLX. Strs Ohio purchased a new position in Deluxe in the 1st quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Deluxe by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,260 shares of the business services provider's stock valued at $415,000 after purchasing an additional 1,072 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Deluxe by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,736 shares of the business services provider's stock valued at $1,751,000 after purchasing an additional 10,017 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Deluxe by 10.0% in the 1st quarter. AQR Capital Management LLC now owns 272,134 shares of the business services provider's stock valued at $4,302,000 after purchasing an additional 24,660 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Deluxe by 25.6% in the 1st quarter. Royal Bank of Canada now owns 505,810 shares of the business services provider's stock valued at $7,996,000 after purchasing an additional 102,948 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DLX. Cowen reiterated a "buy" rating on shares of Deluxe in a research report on Thursday. Wall Street Zen upgraded Deluxe from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Finally, TD Securities decreased their target price on Deluxe from $33.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st.

Get Our Latest Research Report on DLX

Deluxe Company Profile

(Get Free Report)

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.

Further Reading

Earnings History for Deluxe (NYSE:DLX)

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