Brokerages expect that Moneygram International Inc (NASDAQ:MGI) will announce $380.75 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Moneygram International’s earnings. The lowest sales estimate is $370.40 million and the highest is $386.00 million. Moneygram International posted sales of $397.80 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The business is scheduled to report its next earnings results on Thursday, November 1st.
On average, analysts expect that Moneygram International will report full year sales of $1.53 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.54 billion. For the next financial year, analysts forecast that the firm will report sales of $1.56 billion, with estimates ranging from $1.54 billion to $1.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Moneygram International.
Moneygram International (NASDAQ:MGI) last posted its earnings results on Friday, August 3rd. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. Moneygram International had a negative net margin of 2.27% and a negative return on equity of 8.32%. The firm had revenue of $374.60 million during the quarter, compared to analysts’ expectations of $387.37 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Moneygram International’s quarterly revenue was down 8.6% on a year-over-year basis.
Several research analysts have commented on MGI shares. Zacks Investment Research upgraded shares of Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research report on Friday, August 10th. BidaskClub upgraded shares of Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Finally, Morgan Stanley decreased their target price on shares of Moneygram International from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Monday, August 6th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company currently has a consensus rating of “Sell” and an average price target of $6.63.
NASDAQ MGI traded down $0.11 on Monday, hitting $4.56. The stock had a trading volume of 177,652 shares, compared to its average volume of 391,348. Moneygram International has a one year low of $4.46 and a one year high of $15.95. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.15. The stock has a market cap of $259.68 million, a price-to-earnings ratio of 5.18 and a beta of 1.97.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Moneygram International by 6.4% in the 2nd quarter. BlackRock Inc. now owns 2,170,355 shares of the financial services provider’s stock worth $14,521,000 after acquiring an additional 131,236 shares during the period. Millennium Management LLC lifted its stake in shares of Moneygram International by 7,437.8% in the 1st quarter. Millennium Management LLC now owns 1,467,158 shares of the financial services provider’s stock worth $12,647,000 after acquiring an additional 1,447,694 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Moneygram International by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,335,365 shares of the financial services provider’s stock worth $8,934,000 after acquiring an additional 128,863 shares during the period. Gabelli Funds LLC lifted its stake in shares of Moneygram International by 126.9% in the 2nd quarter. Gabelli Funds LLC now owns 541,146 shares of the financial services provider’s stock worth $3,620,000 after acquiring an additional 302,614 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Moneygram International by 14.1% in the 2nd quarter. Northern Trust Corp now owns 363,470 shares of the financial services provider’s stock worth $2,431,000 after acquiring an additional 44,823 shares during the period. Hedge funds and other institutional investors own 85.99% of the company’s stock.
About Moneygram International
MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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