Equities analysts expect Moneygram International Inc (NASDAQ:MGI) to report earnings of $0.15 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Moneygram International’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.10. Moneygram International reported earnings of $0.26 per share during the same quarter last year, which indicates a negative year over year growth rate of 42.3%. The firm is scheduled to report its next quarterly earnings results on Friday, March 15th.
According to Zacks, analysts expect that Moneygram International will report full-year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.74. For the next year, analysts expect that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.58 to $0.74. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Moneygram International.
Moneygram International (NASDAQ:MGI) last released its quarterly earnings results on Thursday, November 8th. The financial services provider reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The company had revenue of $347.20 million during the quarter, compared to analysts’ expectations of $378.73 million. Moneygram International had a negative net margin of 4.24% and a negative return on equity of 10.46%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year.
MGI has been the subject of several research analyst reports. BidaskClub upgraded shares of Moneygram International from a “strong sell” rating to a “sell” rating in a report on Friday, July 27th. Morgan Stanley reduced their price target on shares of Moneygram International from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Monday, August 6th. 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 report on Friday, August 10th. Finally, Evercore ISI cut shares of Moneygram International from an “in-line” rating to an “underperform” rating in a report on Friday. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock presently has a consensus rating of “Sell” and an average target price of $6.63.
Shares of Moneygram International stock traded up $0.06 on Tuesday, hitting $2.23. The company had a trading volume of 1,787,600 shares, compared to its average volume of 616,026. The stock has a market capitalization of $126.23 million, a PE ratio of 2.53 and a beta of 2.02. Moneygram International has a twelve month low of $2.04 and a twelve month high of $14.97.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in Moneygram International by 160.6% in the first quarter. Wells Fargo & Company MN now owns 109,248 shares of the financial services provider’s stock valued at $941,000 after acquiring an additional 67,319 shares during the last quarter. BlackRock Inc. lifted its stake in Moneygram International by 1.8% in the first quarter. BlackRock Inc. now owns 2,039,119 shares of the financial services provider’s stock valued at $17,578,000 after acquiring an additional 35,535 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Moneygram International by 38.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,206,502 shares of the financial services provider’s stock valued at $10,400,000 after acquiring an additional 334,658 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Moneygram International in the first quarter valued at $270,000. Finally, Millennium Management LLC lifted its stake in Moneygram International by 7,437.8% in the first quarter. Millennium Management LLC now owns 1,467,158 shares of the financial services provider’s stock valued at $12,647,000 after acquiring an additional 1,447,694 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.
Moneygram International Company Profile
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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