$0.15 Earnings Per Share Expected for Moneygram International Inc (MGI) This Quarter

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Wall Street brokerages predict that Moneygram International Inc (NASDAQ:MGI) will report earnings of $0.15 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Moneygram International’s earnings, with estimates ranging from $0.13 to $0.18. Moneygram International posted earnings per share of $0.27 in the same quarter last year, which would indicate a negative year-over-year growth rate of 44.4%. The company is expected to report its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that Moneygram International will report full year earnings of $0.62 per share for the current fiscal year, with EPS estimates ranging from $0.59 to $0.65. For the next financial year, analysts forecast that the firm will report earnings of $0.69 per share, with EPS estimates ranging from $0.66 to $0.72. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Moneygram International.

Moneygram International (NASDAQ:MGI) last posted its earnings results on Monday, May 7th. The financial services provider reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.11). Moneygram International had a negative return on equity of 11.96% and a negative net margin of 1.97%. The firm had revenue of $380.00 million for the quarter, compared to the consensus estimate of $386.34 million. During the same period in the prior year, the business earned $0.26 EPS. Moneygram International’s quarterly revenue was down 1.6% compared to the same quarter last year.

Several research firms have commented on MGI. TheStreet cut shares of Moneygram International from a “c” rating to a “d+” rating in a research report on Friday, March 16th. ValuEngine cut shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research cut shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, BidaskClub cut shares of Moneygram International from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 28th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Moneygram International has an average rating of “Sell” and a consensus price target of $9.75.

Moneygram International stock opened at $6.83 on Friday. Moneygram International has a 52 week low of $6.39 and a 52 week high of $17.48. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.18. The company has a market cap of $371.54 million, a price-to-earnings ratio of 7.72 and a beta of 1.87.

Several large investors have recently bought and sold shares of the stock. Brookfield Asset Management Inc. bought a new stake in shares of Moneygram International in the 1st quarter worth approximately $1,940,000. Highbridge Capital Management LLC bought a new stake in shares of Moneygram International in the 1st quarter worth approximately $397,000. Millennium Management LLC raised its holdings 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 purchasing an additional 1,447,694 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Moneygram International in the 1st quarter worth approximately $380,000. Finally, Clearline Capital LP bought a new stake in shares of Moneygram International in the 1st quarter worth approximately $153,000. 86.16% of the stock is currently owned by institutional investors.

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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