International Money Express (NASDAQ:IMXI) Issues Earnings Results

Key Points

• International Money Express reported a quarterly earnings per share (EPS) of $0.46, missing the consensus estimate of $0.49 by $0.03.
• Several analysts downgraded their price targets for the stock, with BMO Capital Markets lowering it from $18.00 to $11.00 and UBS Group from $17.00 to $12.00.
• Institutional investors and hedge funds hold 86.71% of the company's stock, with Creative Planning recently acquiring a new stake valued at approximately $272,000.

International Money Express (NASDAQ:IMXI - Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.03), Zacks reports. International Money Express had a return on equity of 42.08% and a net margin of 8.01%. The company had revenue of $161.13 million for the quarter, compared to the consensus estimate of $164.29 million.

International Money Express Stock Performance

Shares of IMXI stock traded down $0.10 during trading on Thursday, reaching $14.58. 1,605,683 shares of the company's stock were exchanged, compared to its average volume of 430,365. The company has a quick ratio of 1.75, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $439.27 million, a PE ratio of 8.89 and a beta of 1.02. International Money Express has a twelve month low of $8.58 and a twelve month high of $22.37. The firm's fifty day moving average price is $10.32 and its 200-day moving average price is $12.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMXI. Creative Planning acquired a new position in International Money Express in the 2nd quarter valued at $272,000. Norges Bank acquired a new position in International Money Express in the 2nd quarter valued at $1,124,000. Quantbot Technologies LP grew its holdings in International Money Express by 35.5% in the 2nd quarter. Quantbot Technologies LP now owns 32,423 shares of the company's stock valued at $327,000 after buying an additional 8,487 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in International Money Express by 2.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 287,744 shares of the company's stock valued at $2,903,000 after buying an additional 7,256 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in International Money Express by 2.1% in the 2nd quarter. First Trust Advisors LP now owns 93,410 shares of the company's stock valued at $943,000 after buying an additional 1,881 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IMXI shares. Northland Capmk cut International Money Express from a "strong-buy" rating to a "hold" rating in a research note on Monday. UBS Group dropped their price objective on International Money Express from $17.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, BMO Capital Markets lowered International Money Express from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $18.00 to $11.00 in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.60.

About International Money Express

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.