EVO Payments Inc to Post Q3 2019 Earnings of $0.19 Per Share, SunTrust Banks Forecasts (EVOP)

EVO Payments Inc (NASDAQ:EVOP) – Investment analysts at SunTrust Banks boosted their Q3 2019 earnings per share estimates for EVO Payments in a research note issued on Tuesday, April 16th. SunTrust Banks analyst A. Jeffrey now anticipates that the company will earn $0.19 per share for the quarter, up from their previous estimate of $0.16.

EVO Payments (NASDAQ:EVOP) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). The company had revenue of $150.82 million during the quarter, compared to analysts’ expectations of $150.70 million.

Several other research analysts also recently weighed in on EVOP. ValuEngine downgraded EVO Payments from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Bank of America downgraded EVO Payments from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $28.00 to $23.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded EVO Payments from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, First Analysis started coverage on EVO Payments in a research note on Thursday, January 31st. They issued an “outperform” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.55.

EVOP stock opened at $28.93 on Thursday. EVO Payments has a 1-year low of $19.00 and a 1-year high of $30.45. The stock has a market capitalization of $2.35 billion and a P/E ratio of -19.55.

A number of hedge funds have recently modified their holdings of the stock. Chartwell Investment Partners LLC raised its holdings in EVO Payments by 1.3% during the first quarter. Chartwell Investment Partners LLC now owns 106,930 shares of the company’s stock worth $3,106,000 after purchasing an additional 1,423 shares during the last quarter. Geode Capital Management LLC raised its holdings in EVO Payments by 67.1% during the fourth quarter. Geode Capital Management LLC now owns 242,716 shares of the company’s stock worth $5,987,000 after purchasing an additional 97,421 shares during the last quarter. Norges Bank acquired a new position in shares of EVO Payments in the fourth quarter worth $1,234,000. Millennium Management LLC acquired a new position in shares of EVO Payments in the fourth quarter worth $417,000. Finally, Legal & General Group Plc raised its holdings in shares of EVO Payments by 51.4% in the fourth quarter. Legal & General Group Plc now owns 3,728 shares of the company’s stock worth $92,000 after acquiring an additional 1,265 shares during the last quarter. 35.96% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Michael L. Reidenbach sold 2,000 shares of EVO Payments stock in a transaction on Friday, February 1st. The stock was sold at an average price of $25.16, for a total transaction of $50,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Groot Steven J. De sold 6,000 shares of EVO Payments stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $28.00, for a total value of $168,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,000 shares of company stock worth $406,420.

EVO Payments Company Profile

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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Earnings History and Estimates for EVO Payments (NASDAQ:EVOP)

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