CPI Card Group Inc. Expected to Earn Q3 2024 Earnings of $0.49 Per Share (NASDAQ:PMTS)

CPI Card Group Inc. (NASDAQ:PMTS) – Analysts at B. Riley dropped their Q3 2024 earnings per share estimates for shares of CPI Card Group in a research note issued to investors on Tuesday, May 7th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings of $0.49 per share for the quarter, down from their previous estimate of $0.51. The consensus estimate for CPI Card Group’s current full-year earnings is $2.12 per share. B. Riley also issued estimates for CPI Card Group’s Q4 2024 earnings at $0.45 EPS.

PMTS has been the subject of a number of other research reports. StockNews.com upgraded CPI Card Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. Roth Capital reaffirmed a “buy” rating on shares of CPI Card Group in a report on Friday, February 23rd. Finally, Roth Mkm began coverage on CPI Card Group in a report on Friday, February 23rd. They set a “buy” rating and a $40.00 target price for the company. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.50.

CPI Card Group Stock Performance

Shares of PMTS opened at $21.00 on Friday. The firm has a market cap of $239.00 million, a P/E ratio of 10.40 and a beta of 1.02. CPI Card Group has a 52 week low of $12.65 and a 52 week high of $30.65. The firm’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $17.81.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $102.87 million during the quarter, compared to analysts’ expectations of $104.70 million. CPI Card Group had a net margin of 5.40% and a negative return on equity of 39.59%. During the same period in the previous year, the business posted $1.06 earnings per share.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC raised its position in CPI Card Group by 19.0% in the first quarter. Denali Advisors LLC now owns 16,300 shares of the company’s stock valued at $291,000 after purchasing an additional 2,600 shares during the last quarter. Navellier & Associates Inc. acquired a new stake in CPI Card Group during the 4th quarter worth approximately $275,000. Trivant Custom Portfolio Group LLC bought a new stake in CPI Card Group during the 4th quarter worth approximately $31,000. Exchange Traded Concepts LLC acquired a new position in CPI Card Group in the 4th quarter valued at approximately $380,000. Finally, Kerrisdale Advisers LLC raised its stake in shares of CPI Card Group by 38.8% during the third quarter. Kerrisdale Advisers LLC now owns 117,650 shares of the company’s stock valued at $2,179,000 after acquiring an additional 32,871 shares during the last quarter. 22.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Equity Ulc Parallel49 sold 244,314 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $18.03, for a total value of $4,404,981.42. Following the completion of the transaction, the insider now directly owns 6,314,511 shares in the company, valued at approximately $113,850,633.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is owned by company insiders.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.