Evertec, Inc. (NYSE:EVTC) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Evertec, Inc. has received an average rating of "Hold" from analysts, with five holding and three buying recommendations; the average price target is set at $39.00.
• The company's stock recently opened at $31.00 and has a 52-week range between $29.38 and $38.56, with a market cap of $1.98 billion.
• During its latest earnings report, Evertec posted earnings of $0.89 per share, exceeding expectations, while also announcing a quarterly dividend of $0.05 to be paid on December 5th.

Evertec, Inc. (NYSE:EVTC - Get Free Report) has been assigned a consensus rating of "Hold" from the eight analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $39.00.

EVTC has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Evertec in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Evertec in a report on Thursday, July 17th. They issued a "hold" rating and a $35.00 price target on the stock. Morgan Stanley cut their price target on shares of Evertec from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Zacks Research downgraded shares of Evertec from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $43.00 target price (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st.

Evertec Stock Down 0.2%

Evertec stock opened at $31.00 on Friday. Evertec has a fifty-two week low of $29.38 and a fifty-two week high of $38.56. The stock has a market cap of $1.98 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm's 50-day simple moving average is $33.51 and its 200 day simple moving average is $34.68. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20.

Evertec (NYSE:EVTC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The business had revenue of $229.61 million for the quarter, compared to analysts' expectations of $222.23 million. During the same period in the previous year, the company earned $0.83 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Research analysts predict that Evertec will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 3rd will be paid a $0.05 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.20 annualized dividend and a yield of 0.6%. Evertec's dividend payout ratio is presently 9.43%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Evertec by 2.3% during the first quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider's stock valued at $11,680,000 after purchasing an additional 7,125 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Evertec by 55.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider's stock valued at $414,000 after purchasing an additional 3,980 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Evertec by 39.2% during the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after buying an additional 429 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Evertec by 35.5% during the 1st quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider's stock valued at $465,000 after buying an additional 3,330 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Evertec by 8.2% during the 1st quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider's stock valued at $424,000 after buying an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.

Evertec Company Profile

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.

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