Euronet Worldwide (EEFT) is Initiated by SunTrust to Buy, Price Target at $98

Euronet Worldwide (EEFT) was Initiated by SunTrust to “Buy” and the brokerage firm has set the Price Target at $98. SunTrust advised their investors in a research report released on Oct 12, 2016.

On the company’s financial health, Euronet Worldwide reported $0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.25 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $1.22. The company had revenue of $476.90 million for the quarter, compared to analysts expectations of $525.33 million. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Euronet Worldwide opened for trading at $82.5 and hit $83.73 on the upside on Tuesday, eventually ending the session at $83.66, with a gain of 1.11% or 0.92 points. The heightened volatility saw the trading volume jump to 4,10,684 shares. Company has a market cap of $4,358 M.

In a different news, on Aug 17, 2016, Jeffrey B Newman (Exec VP and General Counsel) sold 5,772 shares at $77.80 per share price. According to the SEC, on Aug 4, 2016, Kevin J Caponecchi (CEO, epay and APAC Division) sold 58,573 shares at $75.52 per share price. On Feb 22, 2016, M Jeannine Strandjord (director) purchased 2,000 shares at $66.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Euronet Worldwide Inc. (Euronet) is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions retailers service providers and individual consumers. The Company operates in three segments: The EFT Processing Segment which provides electronic payment solutions consisting of ATM cash withdrawal and deposit services ATM network participation outsourced ATM and POS management solutions credit and debit card outsourcing and card issuing and merchant acquiring services; The epay Segment which provides electronic distribution and processing of prepaid mobile airtime and other electronic payment products and collection services for various payment products cards and services and the Money Transfer Segment which provides global consumer-to-consumer money transfer services under the brand names Ria and AFEX Money Express and global account-to-account money transfer services under the brand name HiFX.

Euronet Worldwide

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