Euronet Worldwide, Inc. $EEFT Stock Sold by New South Capital Management Inc.

Key Points

• New South Capital cut its Euronet Worldwide stake by 38.8% in the third quarter, selling 309,231 shares. It retained 488,529 shares, worth about $30.7 million.
• Analysts have a consensus “Hold” rating and an average price target of $73.40; recent firms lowered some targets, while maintaining mixed buy, hold, and sell ratings.
• Euronet reported quarterly EPS of $3.55, below the $3.66 consensus, and revenue of $1.16 billion versus $1.19 billion expected. Revenue was up 1.3% year over year.

New South Capital Management Inc. lessened its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 38.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 488,529 shares of the business services provider's stock after selling 309,231 shares during the quarter. Euronet Worldwide makes up 2.1% of New South Capital Management Inc.'s portfolio, making the stock its 16th biggest position. New South Capital Management Inc. owned 1.28% of Euronet Worldwide worth $30,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EEFT. BlackRock Inc. bought a new stake in Euronet Worldwide in the second quarter valued at $244,726,000. Turtle Creek Asset Management Inc. raised its holdings in Euronet Worldwide by 44.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider's stock worth $122,588,000 after purchasing an additional 572,194 shares in the last quarter. Reinhart Partners LLC. raised its holdings in Euronet Worldwide by 9.2% in the 2nd quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider's stock worth $119,091,000 after purchasing an additional 136,613 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Euronet Worldwide in the 2nd quarter worth about $98,213,000. Finally, Janus Henderson Group PLC lifted its position in shares of Euronet Worldwide by 3.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,406,556 shares of the business services provider's stock worth $93,353,000 after purchasing an additional 48,990 shares during the period. Institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

EEFT has been the topic of several research analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Euronet Worldwide in a research report on Wednesday, November 4th. Cantor Fitzgerald restated an "overweight" rating on shares of Euronet Worldwide in a report on Wednesday, October 28th. Needham & Company LLC cut their price objective on Euronet Worldwide from $90.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, October 27th. DA Davidson reduced their target price on Euronet Worldwide from $94.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, October 28th. Finally, Wolfe Research decreased their target price on Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating for the company in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $73.40.

Euronet Worldwide Stock Performance

Shares of EEFT opened at $70.49 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.31. The stock has a market cap of $2.59 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.58 and a beta of 0.92. The business's 50 day moving average price is $66.64 and its 200-day moving average price is $70.26. Euronet Worldwide, Inc. has a 52 week low of $57.48 and a 52 week high of $83.97.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.66 by ($0.11). Euronet Worldwide had a net margin of 6.41% and a return on equity of 27.44%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $3.62 EPS. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that Euronet Worldwide, Inc. will post 9.35 earnings per share for the current fiscal year.

Euronet Worldwide Profile

Euronet Worldwide is a global provider of electronic payment and transaction-processing services. Founded in 1994, the company began by developing electronic funds transfer services in Central Europe and has since expanded its offerings and international reach. Its EFT Processing business provides ATM and point-of-sale services, including network operations, payment processing and outsourced solutions for financial institutions and businesses. Through its epay business, Euronet distributes prepaid mobile airtime and other digital products.

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