EVO Payments (EVOP) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

EVO Payments (NASDAQ:EVOP) issued its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.08), Morningstar.com reports. The firm had revenue of $144.76 million during the quarter, compared to analysts’ expectations of $142.24 million. EVO Payments updated its FY 2018 guidance to $0.47-0.52 EPS.

EVOP opened at $27.55 on Friday. EVO Payments has a 52 week low of $19.00 and a 52 week high of $30.45.

Several research analysts have commented on the company. SunTrust Banks raised their price objective on EVO Payments to $32.00 and gave the stock a “buy” rating in a report on Thursday. Buckingham Research assumed coverage on EVO Payments in a report on Wednesday, August 29th. They set a “neutral” rating and a $24.00 price objective on the stock. Finally, Citigroup reduced their price objective on EVO Payments from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, August 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. EVO Payments has a consensus rating of “Hold” and a consensus price target of $24.38.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. increased its holdings in EVO Payments by 68.9% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 348,019 shares of the company’s stock worth $8,314,000 after purchasing an additional 141,920 shares during the period. Eagle Asset Management Inc. increased its holdings in EVO Payments by 309.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,322,609 shares of the company’s stock worth $31,610,000 after purchasing an additional 999,656 shares during the period. Rhumbline Advisers purchased a new position in EVO Payments during the 3rd quarter worth $273,000. JPMorgan Chase & Co. increased its holdings in EVO Payments by 135.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,109 shares of the company’s stock worth $720,000 after purchasing an additional 17,312 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of EVO Payments in the 3rd quarter valued at $4,298,000. Institutional investors own 21.58% of the company’s stock.

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About EVO Payments

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 525,000 merchants. The company processes approximately 900 million transactions in North America and approximately 1.7 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.

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