EVERTEC (NYSE:EVTC – Get 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
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
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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