International Money Express (NASDAQ:IMXI) Issues Quarterly Earnings Results

Key Points

• International Money Express missed quarterly expectations: Earnings were $0.23 per share versus the $0.35 consensus estimate, while revenue of $131.16 million fell short of analysts’ $143.59 million forecast.
• The stock declined to $11.82 during Monday trading, near its 12-month low of $11.15 and below its 50-day and 200-day moving averages.
• Analyst sentiment remains negative: Recent downgrades helped produce a consensus “Reduce” rating, with two analysts at Hold and one at Sell. Institutional investors own 86.71% of the company.

International Money Express (NASDAQ:IMXI - Get Free Report) released its earnings results on Monday. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12), FiscalAI reports. The business had revenue of $131.16 million during the quarter, compared to analysts' expectations of $143.59 million. International Money Express had a return on equity of 23.26% and a net margin of 4.34%.

International Money Express Stock Performance

International Money Express stock traded down $0.37 during midday trading on Monday, reaching $11.82. 588,261 shares of the company traded hands, compared to its average volume of 426,836. International Money Express has a 12 month low of $11.15 and a 12 month high of $15.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.84 and a quick ratio of 2.84. The business has a 50 day moving average of $13.94 and a two-hundred day moving average of $15.05. The firm has a market capitalization of $355.66 million, a price-to-earnings ratio of 13.91 and a beta of 0.76.

Analyst Upgrades and Downgrades

IMXI has been the subject of a number of analyst reports. Weiss Ratings lowered International Money Express from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded International Money Express from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce".

Institutional Trading of International Money Express

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of International Money Express by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,949 shares of the company's stock valued at $261,000 after acquiring an additional 2,083 shares during the period. Ieq Capital LLC purchased a new position in International Money Express during the fourth quarter valued at approximately $193,000. Brooklyn Investment Group purchased a new position in International Money Express during the fourth quarter valued at approximately $318,000. Renaissance Technologies LLC bought a new position in shares of International Money Express in the fourth quarter worth approximately $296,000. Finally, Sei Investments Co. boosted its position in shares of International Money Express by 110.4% in the second quarter. Sei Investments Co. now owns 22,777 shares of the company's stock worth $230,000 after purchasing an additional 11,952 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

About International Money Express

International Money Express, Inc NASDAQ: IMXI is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.

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