Brokerages Expect MoneyGram International, Inc. (NASDAQ:MGI) Will Announce Quarterly Sales of $330.15 Million

Analysts forecast that MoneyGram International, Inc. (NASDAQ:MGI – Get Rating) will announce sales of $330.15 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MoneyGram International’s earnings, with the lowest sales estimate coming in at $325.30 million and the highest estimate coming in at $335.00 million. MoneyGram International reported sales of $329.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.3%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that MoneyGram International will report full year sales of $1.30 billion for the current fiscal year, with estimates ranging from $1.29 billion to $1.32 billion. For the next year, analysts anticipate that the firm will post sales of $1.35 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow MoneyGram International.

MoneyGram International (NASDAQ:MGI – Get Rating) last announced its quarterly earnings results on Friday, May 6th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). MoneyGram International had a negative return on equity of 20.36% and a negative net margin of 1.36%. The firm had revenue of $307.60 million for the quarter, compared to analysts’ expectations of $316.30 million.

A number of brokerages recently issued reports on MGI. William Blair reissued a “market perform” rating on shares of MoneyGram International in a report on Monday, March 7th. Northland Securities cut shares of MoneyGram International from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 22nd. Finally, StockNews.com started coverage on shares of MoneyGram International in a research report on Thursday, March 31st. They set a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.88.

In other news, insider Adrianna E. Greenwald sold 8,825 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $10.67, for a total value of $94,162.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert L. Villasenor sold 21,597 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $10.66, for a total transaction of $230,224.02. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MGI. Park West Asset Management LLC raised its position in shares of MoneyGram International by 511.1% in the third quarter. Park West Asset Management LLC now owns 2,750,000 shares of the financial services provider’s stock valued at $22,055,000 after buying an additional 2,300,000 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in MoneyGram International during the fourth quarter worth about $17,065,000. Glazer Capital LLC acquired a new stake in MoneyGram International during the first quarter worth about $23,168,000. Goldman Sachs Group Inc. increased its position in MoneyGram International by 246.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,505,799 shares of the financial services provider’s stock worth $19,771,000 after purchasing an additional 1,782,817 shares during the last quarter. Finally, Tibra Equities Europe Ltd acquired a new stake in MoneyGram International during the first quarter worth about $16,222,000. Institutional investors and hedge funds own 68.35% of the company’s stock.

NASDAQ MGI traded up $0.01 during mid-day trading on Friday, reaching $10.01. 539,506 shares of the stock were exchanged, compared to its average volume of 4,241,823. The business’s 50 day moving average is $10.23 and its 200-day moving average is $9.07. MoneyGram International has a 1 year low of $5.06 and a 1 year high of $12.36. The company has a market capitalization of $963.74 million, a P/E ratio of -50.05 and a beta of 1.30.

MoneyGram International Company Profile (Get Rating)

MoneyGram International, Inc is a global payment services company, which offers global money transfers, bill payment solutions and money orders. It operates through the following business segments: Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer services.

See Also