Euronet Worldwide, Inc. (NASDAQ:EEFT) to Post FY2023 Earnings of $6.51 Per Share, Zacks Research Forecasts

Posted by Defense World Staff on Oct 6th, 2023

Euronet Worldwide, Inc. (NASDAQ:EEFT – Free Report) – Analysts at Zacks Research dropped their FY2023 earnings estimates for shares of Euronet Worldwide in a report issued on Tuesday, October 3rd. Zacks Research analyst D. Chatterjee now expects that the business services provider will post earnings per share of $6.51 for the year, down from their previous forecast of $6.52. The consensus estimate for Euronet Worldwide’s current full-year earnings is $6.50 per share. Zacks Research also issued estimates for Euronet Worldwide’s Q4 2023 earnings at $1.54 EPS, Q1 2024 earnings at $0.75 EPS, Q2 2024 earnings at $1.96 EPS, Q4 2024 earnings at $1.61 EPS, FY2024 earnings at $7.15 EPS and Q1 2025 earnings at $1.23 EPS.

Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Euronet Worldwide from a “b-” rating to a “c+” rating in a report on Thursday, August 10th. Citigroup reduced their price objective on shares of Euronet Worldwide from $119.00 to $93.00 and set a “neutral” rating for the company in a report on Tuesday, August 8th. Northland Securities reduced their price objective on shares of Euronet Worldwide from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, September 29th. Needham & Company LLC reduced their price objective on shares of Euronet Worldwide from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Finally, StockNews.com started coverage on shares of Euronet Worldwide in a report on Thursday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $111.22.

Check Out Our Latest Stock Report on Euronet Worldwide

Euronet Worldwide Price Performance

NASDAQ:EEFT opened at $76.92 on Thursday. The company has a 50-day moving average of $83.80 and a 200-day moving average of $102.27. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 14.74 and a beta of 1.29. Euronet Worldwide has a 52 week low of $71.60 and a 52 week high of $121.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.52 and a current ratio of 1.52.

Euronet Worldwide (NASDAQ:EEFT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.03. The company had revenue of $939.10 million for the quarter, compared to analyst estimates of $922.29 million. Euronet Worldwide had a net margin of 7.77% and a return on equity of 24.92%.

Hedge Funds Weigh In On Euronet Worldwide

A number of institutional investors have recently modified their holdings of EEFT. Norges Bank bought a new position in shares of Euronet Worldwide in the fourth quarter worth about $45,866,000. Wasatch Advisors Inc. raised its stake in shares of Euronet Worldwide by 18.5% in the first quarter. Wasatch Advisors Inc. now owns 2,764,637 shares of the business services provider’s stock worth $359,818,000 after acquiring an additional 431,262 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Euronet Worldwide by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 569,056 shares of the business services provider’s stock worth $74,062,000 after acquiring an additional 331,067 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Euronet Worldwide by 71.1% in the first quarter. American Century Companies Inc. now owns 709,169 shares of the business services provider’s stock worth $79,356,000 after acquiring an additional 294,746 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Euronet Worldwide by 23.6% in the first quarter. ArrowMark Colorado Holdings LLC now owns 1,381,675 shares of the business services provider’s stock worth $154,609,000 after acquiring an additional 263,397 shares during the last quarter. 94.63% of the stock is owned by institutional investors.

About Euronet Worldwide

(Get Free Report)

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer.The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.