EVO Payments (NASDAQ:EVOP) Hits New 1-Year High Following Better-Than-Expected Earnings

EVO Payments, Inc. (NASDAQ:EVOP – Get Rating)’s stock price reached a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $33.00 and last traded at $32.95, with a volume of 14123 shares trading hands. The stock had previously closed at $27.34.

The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $137.70 million during the quarter, compared to the consensus estimate of $138.59 million. EVO Payments had a net margin of 2.33% and a negative return on equity of 11.72%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Northcoast Research downgraded shares of EVO Payments from a “buy” rating to a “neutral” rating in a report on Tuesday. Truist Financial downgraded shares of EVO Payments from a “buy” rating to a “hold” rating and upped their price objective for the company from $32.00 to $34.00 in a report on Tuesday. Finally, William Blair downgraded shares of EVO Payments from an “outperform” rating to a “market perform” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, EVO Payments currently has a consensus rating of “Hold” and a consensus target price of $30.33.

Institutional Investors Weigh In On EVO Payments

A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in EVO Payments by 7.6% in the first quarter. Principal Financial Group Inc. now owns 8,674 shares of the company’s stock valued at $200,000 after buying an additional 616 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in EVO Payments by 8.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,178 shares of the company’s stock worth $189,000 after purchasing an additional 642 shares in the last quarter. Teacher Retirement System of Texas boosted its position in EVO Payments by 8.8% in the 1st quarter. Teacher Retirement System of Texas now owns 9,864 shares of the company’s stock worth $228,000 after purchasing an additional 797 shares in the last quarter. New York State Common Retirement Fund boosted its position in EVO Payments by 3.2% in the 1st quarter. New York State Common Retirement Fund now owns 34,553 shares of the company’s stock worth $798,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in EVO Payments by 2.4% in the 4th quarter. Rhumbline Advisers now owns 50,922 shares of the company’s stock worth $1,304,000 after purchasing an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

EVO Payments Trading Down 0.6 %

The company has a 50-day simple moving average of $24.30 and a 200 day simple moving average of $23.59. The firm has a market cap of $2.81 billion, a PE ratio of 1,117.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40.

EVO Payments Company Profile

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EVO Payments, Inc operates as an integrated merchant acquirer and payment processor in the Americas and Europe. Its payment and commerce solutions consist of EMV, chip and signature enabled POS terminals, virtual POS terminals for desktops, mobile acceptance and mPOS solutions software-based POS solutions, online hosted payments, and integrated payment service provider.