Todays Report: The MoneyGram International Inc. (MGI) Announces Earnings Results, Beats Estimates By $0.03 EPS

The MoneyGram International Inc. (MGI) Announces  Earnings Results, Beats Estimates By $0.03 EPS

MoneyGram International Inc. (NASDAQ:MGI) posted its quarterly earnings data on Friday. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The firm earned $383.10 million during the quarter, compared to analyst estimates of $389.53 million. MoneyGram International had a net margin of 0.78% and a negative return on equity of 11.12%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS.

MoneyGram International (NASDAQ:MGI) opened at 6.62 on Monday. The company has a market capitalization of $351.30 million, a P/E ratio of 36.78 and a beta of 1.69. The stock’s 50 day moving average is $6.82 and its 200-day moving average is $6.79. MoneyGram International has a 52-week low of $4.68 and a 52-week high of $10.92.

Several research firms have commented on MGI. Zacks Investment Research upgraded shares of MoneyGram International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a research note on Thursday, July 21st. William Blair reissued an “outperform” rating on shares of MoneyGram International in a research report on Tuesday, July 19th. JPMorgan Chase & Co. downgraded shares of MoneyGram International from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, July 12th. Finally, Compass Point reissued a “neutral” rating and set a $8.00 target price on shares of MoneyGram International in a research report on Tuesday, October 11th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $8.17.

Several large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its stake in shares of MoneyGram International by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 177,128 shares of the company’s stock worth $1,213,000 after buying an additional 553 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of MoneyGram International by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 201,547 shares of the company’s stock worth $1,380,000 after buying an additional 1,268 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of MoneyGram International by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 98,803 shares of the company’s stock worth $677,000 after buying an additional 1,554 shares during the last quarter. Alambic Investment Management L.P. raised its stake in shares of MoneyGram International by 10.9% in the third quarter. Alambic Investment Management L.P. now owns 19,315 shares of the company’s stock worth $137,000 after buying an additional 1,900 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in shares of MoneyGram International by 5.8% in the second quarter. Teachers Advisors Inc. now owns 53,990 shares of the company’s stock worth $370,000 after buying an additional 2,951 shares during the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.

MoneyGram International Company Profile

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