Evertec, Inc. (NYSE:EVTC) Receives Average Rating of “Hold” from Brokerages

Evertec, Inc. (NYSE:EVTC) has been assigned an average recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $35.80.

A number of brokerages have issued reports on EVTC. Keefe, Bruyette & Woods reduced their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Susquehanna reduced their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Morgan Stanley decreased their target price on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research note on Monday.

Institutional Investors Weigh In On Evertec

Institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of Evertec during the 2nd quarter valued at $26,000. Richardson Financial Services Inc. boosted its stake in Evertec by 132.6% during the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after buying an additional 435 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Evertec by 479.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after acquiring an additional 1,121 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Evertec during the third quarter worth about $52,000. Finally, Advisory Services Network LLC acquired a new position in Evertec during the third quarter worth about $59,000. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Trading Up 0.8%

Evertec stock opened at $28.55 on Wednesday. Evertec has a 52-week low of $26.72 and a 52-week high of $38.56. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.43 and a beta of 0.92. The firm has a 50-day moving average price of $31.15 and a two-hundred day moving average price of $34.15.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $227.93 million for the quarter, compared to analyst estimates of $224.68 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. Evertec’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. Sell-side analysts expect that Evertec will post 2.63 earnings per share for the current year.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 3rd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, November 3rd. Evertec’s dividend payout ratio (DPR) is currently 8.89%.

Evertec Company Profile

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.