Euronet Worldwide (NASDAQ:EEFT) Stock Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Euronet Worldwide shares fell below their 200-day moving average of $70.24, trading as low as $68.97 before last changing hands at $70.09.
• Analysts’ consensus rating is Hold, with an average price target of $73.40; views range from Buy to Sell, and several firms recently lowered their targets.
• The company’s latest quarter missed expectations, reporting EPS of $3.55 versus $3.66 forecast and revenue of $1.16 billion versus $1.19 billion estimated, though revenue rose 1.3% year over year.

Euronet Worldwide, Inc. (NASDAQ:EEFT - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $70.24 and traded as low as $68.97. Euronet Worldwide shares last traded at $70.09, with a volume of 615,114 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EEFT. Wolfe Research dropped their price objective on shares of Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating for the company in a research note on Tuesday, August 25th. Cantor Fitzgerald restated an "overweight" rating on shares of Euronet Worldwide in a report on Wednesday, October 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Euronet Worldwide in a report on Wednesday, November 4th. DA Davidson reduced their price objective on Euronet Worldwide from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. Finally, Stephens dropped their target price on Euronet Worldwide from $71.00 to $63.00 and set an "equal weight" rating for the company in a report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $73.40.

Euronet Worldwide Stock Down 0.6%

The firm's fifty day simple moving average is $66.58 and its two-hundred day simple moving average is $70.24. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.58 and a beta of 0.92.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Euronet Worldwide had a return on equity of 27.44% and a net margin of 6.41%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.62 EPS. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.35 EPS for the current year.

Institutional Investors Weigh In On Euronet Worldwide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Euronet Worldwide in the second quarter valued at $244,726,000. Jupiter Topco LLC acquired a new position in shares of Euronet Worldwide in the 2nd quarter valued at $98,213,000. Turtle Creek Asset Management Inc. lifted its stake in shares of 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 valued at $122,588,000 after purchasing an additional 572,194 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Euronet Worldwide during the 2nd quarter worth $23,083,000. Finally, Bank of America Corp DE purchased a new position in shares of Euronet Worldwide during the 2nd quarter worth $22,221,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Euronet Worldwide Company 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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