Analysts forecast that EVERTEC, Inc. (NYSE:EVTC) will post sales of $131.06 million for the current quarter, Zacks reports. Three analysts have provided estimates for EVERTEC's earnings, with the lowest sales estimate coming in at $129.30 million and the highest estimate coming in at $134.27 million. EVERTEC reported sales of $121.94 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is expected to issue its next quarterly earnings results on Friday, May 14th.
On average, analysts expect that EVERTEC will report full-year sales of $540.73 million for the current year, with estimates ranging from $538.25 million to $544.00 million. For the next fiscal year, analysts forecast that the business will post sales of $569.23 million, with estimates ranging from $564.71 million to $576.20 million. Zacks' sales calculations are an average based on a survey of sell-side research analysts that cover EVERTEC.
EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Sunday, February 28th. The business services provider reported $0.59 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.54 by $0.05. The business had revenue of $134.20 million for the quarter, compared to analyst estimates of $133.45 million. EVERTEC had a net margin of 19.30% and a return on equity of 47.02%. The company's revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS.
A number of research analysts have recently commented on EVTC shares. Raymond James increased their price objective on EVERTEC from $39.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, March 8th. Zacks Investment Research lowered shares of EVERTEC from a "hold" rating to a "sell" rating in a research note on Thursday, March 4th. Finally, Morgan Stanley restated an "underweight" rating and set a $34.00 price objective on shares of EVERTEC in a research report on Monday, March 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of "Hold" and a consensus price target of $37.67.
In other EVERTEC news, CEO Morgan M. Schuessler sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $36.48, for a total transaction of $2,736,000.00. Following the completion of the sale, the chief executive officer now directly owns 325,991 shares of the company's stock, valued at approximately $11,892,151.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Guillermo Rospigliosi sold 24,444 shares of the business's stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $39.43, for a total value of $963,826.92. Following the completion of the transaction, the executive vice president now directly owns 25,382 shares in the company, valued at approximately $1,000,812.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,889 shares of company stock worth $6,620,565. 0.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Vantage Consulting Group Inc purchased a new position in EVERTEC during the fourth quarter worth about $32,000. Lazard Asset Management LLC increased its position in EVERTEC by 351.5% during the 4th quarter. Lazard Asset Management LLC now owns 1,174 shares of the business services provider's stock worth $46,000 after purchasing an additional 914 shares during the period. Veriti Management LLC purchased a new position in shares of EVERTEC during the 4th quarter worth approximately $79,000. SG Americas Securities LLC acquired a new stake in shares of EVERTEC in the 4th quarter valued at approximately $176,000. Finally, Blair William & Co. IL purchased a new stake in shares of EVERTEC in the fourth quarter valued at approximately $201,000. Institutional investors own 80.17% of the company's stock.
EVERTEC stock opened at $38.61 on Thursday. The stock has a market cap of $2.78 billion, a PE ratio of 29.25 and a beta of 1.14. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.32 and a quick ratio of 2.32. The stock's fifty day moving average is $37.58 and its two-hundred day moving average is $37.34. EVERTEC has a 1-year low of $22.02 and a 1-year high of $42.35.
The company also recently declared a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Monday, March 1st were paid a dividend of $0.05 per share. The ex-dividend date was Friday, February 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. EVERTEC's dividend payout ratio is presently 11.05%.
EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through four segments: Payment Services - Puerto Rico & Caribbean; Payment Services - Latin America; 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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