Evertec (NYSE:EVTC) Issues Quarterly Earnings Results

Evertec (NYSE:EVTC) reported quarterly earnings of $0.92 EPS, exceeding estimates of $0.89. Revenue reached $227.93 million, surpassing the expected $224.68 million, marking a 7.9% year-over-year increase. The company also updated its FY 2025 EPS guidance to 3.560-3.620. Despite strong earnings, Evertec's stock fell 3.1% to $27.21. A quarterly dividend of $0.05 will be paid on December 5th. Analysts have mixed ratings, with a consensus rating of "Hold" and a target price of $37.60.

Evertec (NYSE:EVTC - Get Free Report) posted its earnings results on Thursday. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03, Briefing.com reports. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The firm had revenue of $227.93 million during the quarter, compared to analysts' expectations of $224.68 million. During the same period last year, the company posted $0.86 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. Evertec updated its FY 2025 guidance to 3.560-3.620 EPS.

Evertec Stock Down 3.1%

EVTC traded down $0.88 during trading on Friday, hitting $27.21. 914,745 shares of the company's stock traded hands, compared to its average volume of 334,427. Evertec has a 12-month low of $26.78 and a 12-month high of $38.56. The company's 50 day simple moving average is $31.99 and its two-hundred day simple moving average is $34.38. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.43 and a beta of 0.91.

Evertec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.20 annualized dividend and a yield of 0.7%. Evertec's dividend payout ratio is 9.43%.

Institutional Trading of Evertec

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Evertec by 10.2% during the 1st quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider's stock valued at $1,389,000 after buying an additional 3,495 shares during the last quarter. BNP Paribas Financial Markets increased its position in Evertec by 600.9% during the second quarter. BNP Paribas Financial Markets now owns 37,576 shares of the business services provider's stock valued at $1,355,000 after acquiring an additional 32,215 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Evertec by 83.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 36,547 shares of the business services provider's stock valued at $1,318,000 after acquiring an additional 16,677 shares during the period. State of Tennessee Department of Treasury boosted its position in Evertec by 3.6% in the second quarter. State of Tennessee Department of Treasury now owns 34,005 shares of the business services provider's stock worth $1,226,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Evertec by 1.7% during the 2nd quarter. Lazard Asset Management LLC now owns 33,598 shares of the business services provider's stock valued at $1,211,000 after purchasing an additional 567 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Susquehanna lowered their target price on Evertec from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Friday. Morgan Stanley lowered their price objective on Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Evertec in a research note on Wednesday, October 8th. Raymond James Financial reissued an "outperform" rating and set a $43.00 price objective (up previously from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research note on Thursday, July 17th. They set a "hold" rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Evertec currently has a consensus rating of "Hold" and a consensus target price of $37.60.

View Our Latest Stock Report on EVTC

About Evertec

(Get Free Report)

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.

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