EVERTEC (NYSE:EVTC) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EVTC. Morgan Stanley boosted their price objective on shares of EVERTEC from $32.00 to $33.00 and gave the stock an underweight rating in a report on Tuesday, February 27th. StockNews.com cut EVERTEC from a buy rating to a hold rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $41.33.

EVERTEC Trading Up 1.7 %

Shares of EVERTEC stock traded up $0.61 during trading on Friday, reaching $36.35. 417,097 shares of the stock were exchanged, compared to its average volume of 353,157. EVERTEC has a 1 year low of $31.56 and a 1 year high of $42.21. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The company has a quick ratio of 1.88, a current ratio of 1.59 and a debt-to-equity ratio of 1.84. The stock’s fifty day moving average is $38.07 and its 200 day moving average is $38.20.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The business had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. As a group, equities research analysts expect that EVERTEC will post 2.33 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.20 annualized dividend and a yield of 0.55%. EVERTEC’s dividend payout ratio (DPR) is presently 20.20%.

Insider Transactions at EVERTEC

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