EVERTEC (NYSE:EVTC) Releases FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.85-$2.94 for the period, compared to the consensus EPS estimate of $2.88. The company issued revenue guidance of $846-$854 million, compared to the consensus revenue estimate of $849.79 million. EVERTEC also updated its FY 2024 guidance to 2.850-2.940 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EVTC shares. Morgan Stanley raised their price objective on shares of EVERTEC from $32.00 to $33.00 and gave the stock an underweight rating in a research note on Tuesday, February 27th. StockNews.com cut EVERTEC from a buy rating to a hold rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $41.33.

EVERTEC Trading Up 1.7 %

EVERTEC stock traded up $0.61 during trading on Friday, hitting $36.35. The company’s stock had a trading volume of 417,097 shares, compared to its average volume of 353,157. The stock’s fifty day moving average is $38.07 and its 200 day moving average is $38.20. EVERTEC has a 1-year low of $31.56 and a 1-year high of $42.21. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 36.72, a P/E/G ratio of 2.10 and a beta of 1.19. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.88 and a current ratio of 1.59.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company had revenue of $194.62 million for the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. As a group, equities research analysts predict that EVERTEC will post 2.33 EPS for the current year.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

Insider Buying and Selling

In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the completion of the sale, the chief executive officer now owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; 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.