Bank of America Corp DE Acquires New Shares in Euronet Worldwide, Inc. $EEFT

Key Points

• Bank of America initiated a position in Euronet Worldwide during the second quarter, purchasing 303,602 shares valued at approximately $22.2 million, representing about 0.8% of the company. Institutional investors collectively own 91.6% of EEFT.
• Euronet reported quarterly earnings of $2.82 per share, below the $2.93 analyst consensus, although revenue increased 3.2% year over year. Analysts expect full-year EPS of approximately $9.55.
• EEFT shares opened at $64.64, near their 52-week low of $62.50. Analyst sentiment is mixed, with an average rating of Hold and an average price target of $94, including recent buy and underperform calls.

Bank of America Corp DE bought a new position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 303,602 shares of the business services provider's stock, valued at approximately $22,221,000. Bank of America Corp DE owned approximately 0.80% of Euronet Worldwide as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in Euronet Worldwide in the 2nd quarter valued at about $43,000. Parallel Advisors LLC lifted its holdings in shares of Euronet Worldwide by 23.6% in the first quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock valued at $51,000 after purchasing an additional 148 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Euronet Worldwide by 182.1% in the fourth quarter. Clearstead Advisors LLC now owns 677 shares of the business services provider's stock valued at $52,000 after purchasing an additional 437 shares in the last quarter. State of Wyoming acquired a new stake in shares of Euronet Worldwide in the second quarter valued at approximately $73,000. Finally, Hantz Financial Services Inc. grew its position in shares of Euronet Worldwide by 624.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,101 shares of the business services provider's stock valued at $84,000 after purchasing an additional 949 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Euronet Worldwide Stock Performance

Shares of EEFT opened at $64.64 on Thursday. Euronet Worldwide, Inc. has a 1 year low of $62.50 and a 1 year high of $90.56. The company's 50 day simple moving average is $72.75 and its 200 day simple moving average is $71.19. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.53 and a beta of 0.83. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.37 and a current ratio of 1.37.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.The company's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.56 EPS. On average, sell-side analysts predict that Euronet Worldwide, Inc. will post 9.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EEFT shares. Weiss Ratings cut shares of Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Wolfe Research reduced their target price on Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating on the stock in a research note on Tuesday, August 25th. DA Davidson reiterated a "buy" rating and set a $102.00 target price on shares of Euronet Worldwide in a report on Friday, July 10th. Finally, Needham & Company LLC raised their price target on Euronet Worldwide from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $94.00.

Euronet Worldwide Profile

Euronet Worldwide, Inc provides electronic payment and transaction-processing services through a global network of automated teller machines, point-of-sale terminals, money-transfer locations and digital platforms. The company serves financial institutions, retailers, mobile operators, money-transfer agents and consumers.

Euronet operates through three primary business areas: EFT Processing, which includes ATM services, electronic payment processing and related financial technology; epay, which distributes prepaid mobile airtime, gift cards and other electronic payment products; and Money Transfer, which provides international and domestic remittance services through the Ria Money Transfer and xe brands, among others.

Headquartered in Leawood, Kansas, Euronet was founded in 1994 and initially focused on developing ATM networks in Central Europe before expanding into broader payment-processing and money-transfer services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.