-$0.02 Earnings Per Share Expected for Moneygram International Inc (NASDAQ:MGI) This Quarter

Wall Street brokerages expect Moneygram International Inc (NASDAQ:MGI) to post earnings per share of ($0.02) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Moneygram International’s earnings, with estimates ranging from ($0.04) to $0.00. Moneygram International posted earnings per share of $0.01 in the same quarter last year, which indicates a negative year over year growth rate of 300%. The business is expected to issue its next quarterly earnings report on Monday, February 10th.

According to Zacks, analysts expect that Moneygram International will report full year earnings of $0.01 per share for the current financial year, with EPS estimates ranging from ($0.02) to $0.02. For the next financial year, analysts forecast that the business will report earnings of ($0.08) per share, with EPS estimates ranging from ($0.17) to ($0.01). Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Moneygram International.

Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.06). The company had revenue of $324.60 million during the quarter, compared to analysts’ expectations of $328.99 million. Moneygram International had a negative return on equity of 3.29% and a negative net margin of 4.65%.

MGI has been the subject of several recent research reports. ValuEngine cut shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research cut shares of Moneygram International from a “hold” rating to a “strong sell” rating and set a $2.75 target price for the company. in a report on Friday. Northland Securities reduced their target price on shares of Moneygram International from $6.00 to $3.50 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Finally, BidaskClub lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.25.

Shares of Moneygram International stock traded down $0.07 during trading on Wednesday, hitting $2.65. 3,458,639 shares of the company’s stock were exchanged, compared to its average volume of 1,851,797. The business has a 50-day simple moving average of $2.34 and a 200-day simple moving average of $3.24. Moneygram International has a 52-week low of $1.33 and a 52-week high of $6.70. The stock has a market capitalization of $164.46 million, a price-to-earnings ratio of -2.91 and a beta of 2.58.

In other news, insider Ripple Labs Inc. bought 626,600 shares of Moneygram International stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of $4.10 per share, with a total value of $2,569,060.00. Following the completion of the purchase, the insider now directly owns 6,237,523 shares of the company’s stock, valued at $25,573,844.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Thomas H. Lee Advisors, Llc sold 30,006 shares of Moneygram International stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $2.34, for a total transaction of $70,214.04. The disclosure for this sale can be found here. Insiders own 45.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust purchased a new position in Moneygram International during the 3rd quarter worth $2,485,000. Teton Advisors Inc. raised its position in Moneygram International by 7.3% during the 3rd quarter. Teton Advisors Inc. now owns 624,000 shares of the financial services provider’s stock worth $2,484,000 after buying an additional 42,500 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Moneygram International by 140.2% in the 3rd quarter. Millennium Management LLC now owns 319,526 shares of the financial services provider’s stock valued at $1,271,000 after purchasing an additional 186,526 shares in the last quarter. Toroso Investments LLC purchased a new position in shares of Moneygram International in the 2nd quarter valued at about $520,000. Finally, CSat Investment Advisory L.P. purchased a new position in shares of Moneygram International in the 2nd quarter valued at about $520,000. 61.79% of the stock is currently owned by institutional investors and hedge funds.

Moneygram International Company Profile

MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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