EVERTEC (NYSE:EVTC) Updates FY24 Earnings Guidance

EVERTEC (NYSE:EVTC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.08-3.15 for the period, compared to the consensus earnings per share estimate of $3.03. The company issued revenue guidance of $841-847 million, compared to the consensus revenue estimate of $850.72 million. EVERTEC also updated its FY 2024 guidance to 3.080-3.150 EPS.

EVERTEC Trading Up 0.4 %

Shares of EVTC traded up $0.13 during mid-day trading on Friday, reaching $35.33. 375,498 shares of the company’s stock traded hands, compared to its average volume of 355,679. The stock’s 50-day moving average is $33.28 and its two-hundred day moving average is $34.03. EVERTEC has a 12 month low of $28.76 and a 12 month high of $42.21. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $2.26 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.69 and a beta of 1.15.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is 15.63%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the transaction, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

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.