Deluxe (NYSE:DLX) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Deluxe (NYSE:DLX) issued its quarterly earnings results on Wednesday. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.11, reports. The business had revenue of $528.40 million for the quarter, compared to the consensus estimate of $528.70 million. Deluxe had a net margin of 1.78% and a return on equity of 20.90%. Deluxe updated its FY 2024 guidance to 3.200-3.350 EPS and its FY24 guidance to $3.20-3.35 EPS.

Deluxe Trading Up 1.2 %

Shares of NYSE:DLX traded up $0.28 during mid-day trading on Friday, reaching $22.93. The stock had a trading volume of 106,131 shares, compared to its average volume of 227,551. The firm has a market cap of $1.01 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 0.56 and a beta of 1.46. The firm has a 50 day simple moving average of $19.40 and a two-hundred day simple moving average of $20.94. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. Deluxe has a twelve month low of $17.49 and a twelve month high of $24.87.

Deluxe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 5.23%. Deluxe’s payout ratio is presently 139.54%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Deluxe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

Insider Activity at Deluxe

In other news, CEO Barry C. Mccarthy purchased 2,820 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $19.08 per share, for a total transaction of $53,805.60. Following the transaction, the chief executive officer now directly owns 178,670 shares of the company’s stock, valued at approximately $3,409,023.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Deluxe

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Deluxe by 6.6% during the 1st quarter. Russell Investments Group Ltd. now owns 584,592 shares of the business services provider’s stock worth $12,037,000 after purchasing an additional 36,133 shares in the last quarter. Boston Partners bought a new stake in Deluxe during the 1st quarter worth approximately $995,000. LSV Asset Management increased its stake in Deluxe by 2.4% during the 1st quarter. LSV Asset Management now owns 2,090,671 shares of the business services provider’s stock worth $43,047,000 after purchasing an additional 48,067 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Deluxe by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,040,327 shares of the business services provider’s stock worth $45,824,000 after purchasing an additional 123,361 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Deluxe by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 5,167,850 shares of the business services provider’s stock worth $106,406,000 after purchasing an additional 171,998 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Deluxe Company Profile

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.