EVERTEC (NYSE:EVTC) Updates FY24 Earnings Guidance

EVERTEC (NYSE:EVTCGet Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.08-3.15 for the period, compared to the consensus estimate of $3.03. The company issued revenue guidance of $841-847 million, compared to the consensus revenue estimate of $850.72 million.

Analyst Upgrades and Downgrades

Separately, Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the company from $38.00 to $28.00 in a report on Thursday, September 5th.

Check Out Our Latest Stock Analysis on EVTC

EVERTEC Price Performance

Shares of NYSE EVTC traded up $1.73 during mid-day trading on Wednesday, reaching $34.16. The company had a trading volume of 673,328 shares, compared to its average volume of 396,377. The company has a 50-day moving average price of $33.22 and a two-hundred day moving average price of $34.04. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.19 billion, a PE ratio of 32.75, a P/E/G ratio of 1.62 and a beta of 1.15. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. EVERTEC’s dividend payout ratio is currently 19.05%.

Insider Activity at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the sale, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is owned by insiders.

About EVERTEC

(Get Free Report)

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.

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