EVERTEC (NYSE:EVTC) Releases FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.85-$2.94 for the period, compared to the consensus earnings per share 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.

EVERTEC Price Performance

NYSE EVTC traded up $0.61 on Friday, hitting $36.35. 417,097 shares of the company’s stock were exchanged, compared to its average volume of 353,157. EVERTEC has a 52 week low of $31.56 and a 52 week high of $42.21. The stock has a 50-day moving average of $38.07 and a 200-day moving average of $38.20. The company has a current ratio of 1.59, a quick ratio of 1.88 and a debt-to-equity ratio of 1.84. The stock has a market cap 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.

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). EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The business had revenue of $194.62 million for the quarter, compared to the consensus estimate of $179.86 million. Analysts expect that EVERTEC will post 2.33 earnings per share for the current year.

EVERTEC Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley boosted their target price 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 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $41.33.

Insider Buying and Selling at EVERTEC

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