Evertec Inc (EVTC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Evertec Inc (EVTC) reported quarterly earnings results on Wednesday, May-11-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.40. The company posted revenue of $95.48 million in the period, compared to analysts expectations of $92.12 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Evertec Inc. Compass Point Initiated Evertec Inc on Apr 15, 2016 to “Buy”, Price Target of the shares are set at $17.Compass Point Initiated Evertec Inc on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $17.

Evertec Inc opened for trading at $13.54 and hit $13.67 on the upside on Tuesday, eventually ending the session at $13.55, with a gain of 0.67% or 0.09 points. The heightened volatility saw the trading volume jump to 1,60,455 shares. Company has a market cap of $1,031 M.

In a different news, on Sep 21, 2015, Carlos J. Ramirez (Executive Vice President) sold 37,500 shares at $18.31 per share price. According to the SEC, on May 8, 2015, Miguel Vizcarrondo (Executive Vice President) sold 50,000 shares at $22.06 per share price.

EVERTEC Inc. is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants debit network fees and rental fees from point-of-sale (POS) devices and other equipment net of credit card interchange and assessment fees. The Payment Processing segment provides access to the ATH network and other card networks to financial institutions including services such as authorization processing management and recording of automated teller machines (ATM) and POS transactions and ATM management and monitoring. The Business Solutions segment consist of a suite of business process management solutions in various product areas such as core bank processing network hosting and management among others.

Evertec Inc

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