Cardtronics (CATM) is Downgraded by JP Morgan to Neutral

Cardtronics (CATM) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Aug 19, 2016.

On the company’s financial health, Cardtronics reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.77. The company had revenue of $324.00 million for the quarter, compared to analysts expectations of $318.51 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Cardtronics closed down -0.28 points or -0.59% at $47.2 with 2,17,722 shares getting traded on Wednesday. Post opening the session at $47.61, the shares hit an intraday low of $47.0168 and an intraday high of $48.46 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 17, 2016, Rick Updyke (EVP Global Markets & Accounts) sold 9,182 shares at $47.15 per share price. According to the SEC, on Aug 16, 2016, Gerardo Garcia (Chief Info. Security Officer) sold 10,000 shares at $46.11 per share price. On Aug 11, 2016, J Tim Arnoult (director) sold 5,000 shares at $45.71 per share price, according to the Form-4 filing with the securities and exchange commission.

Cardtronics Inc. (Cardtronics) provides automated consumer financial services. The Company provides these services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. The Company’s operations consist of its U.S. Europe and Other International segments. Its U.S. segment includes the Company’s operations in all 50 states Puerto Rico and the U.S. Virgin Islands. Its Europe segment includes the Company’s operations in the United Kingdom and Germany. The Company’s Other International segment includes its operations in Mexico and Canada. Under the managed services arrangement retailers financial institutions and ATM distributors rely on the Company to handle some or all of the operational aspects associated with operating and maintaining ATMs. The Company deploys and operates devices under three arrangements with its retail partners: Company-owned ATM placements merchant-owned ATM placements and managed services.


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