$325.00 Million in Sales Expected for MoneyGram International, Inc. (NASDAQ:MGI) This Quarter

Analysts predict that MoneyGram International, Inc. (NASDAQ:MGI) will announce $325.00 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for MoneyGram International’s earnings. The lowest sales estimate is $324.01 million and the highest is $326.00 million. MoneyGram International reported sales of $323.30 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.5%. The firm is scheduled to report its next quarterly earnings results on Monday, February 28th.

According to Zacks, analysts expect that MoneyGram International will report full year sales of $1.28 billion for the current year, with estimates ranging from $1.28 billion to $1.29 billion. For the next year, analysts forecast that the company will post sales of $1.33 billion, with estimates ranging from $1.32 billion to $1.34 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow MoneyGram International.

MoneyGram International (NASDAQ:MGI) last released its earnings results on Friday, October 29th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The company had revenue of $319.60 million during the quarter, compared to analyst estimates of $330.31 million. MoneyGram International had a negative net margin of 2.71% and a negative return on equity of 6.68%. During the same period in the prior year, the firm posted $0.15 EPS.

A number of equities research analysts have issued reports on the stock. TheStreet lowered shares of MoneyGram International from a “c” rating to a “d+” rating in a report on Friday, October 29th. Barclays cut their price objective on shares of MoneyGram International from $10.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.50.

In other MoneyGram International news, CRO Grant A. Lines bought 5,000 shares of the firm’s stock in a transaction dated Monday, November 15th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $32,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peggy Vaughan bought 44,977 shares of the firm’s stock in a transaction dated Monday, November 15th. The shares were acquired at an average price of $6.69 per share, with a total value of $300,896.13. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 205,977 shares of company stock valued at $1,215,011. 3.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new position in MoneyGram International in the third quarter valued at about $48,000. Legal & General Group Plc grew its stake in MoneyGram International by 25.8% in the second quarter. Legal & General Group Plc now owns 6,223 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,278 shares during the last quarter. Amalgamated Bank purchased a new position in MoneyGram International in the second quarter valued at about $110,000. MANA Advisors LLC purchased a new position in MoneyGram International in the second quarter valued at about $117,000. Finally, Ameriprise Financial Inc. purchased a new position in MoneyGram International in the first quarter valued at about $81,000. Institutional investors own 65.36% of the company’s stock.

MGI traded up $0.21 during trading on Thursday, reaching $6.15. 1,951,768 shares of the company traded hands, compared to its average volume of 2,661,144. MoneyGram International has a 12-month low of $4.93 and a 12-month high of $12.36. The firm has a fifty day simple moving average of $7.03 and a 200 day simple moving average of $8.72. The company has a market cap of $563.88 million, a P/E ratio of -15.38 and a beta of 1.54.

About MoneyGram International

MoneyGram International, Inc is a global payment services company, which offers global money transfers, bill payment solutions and money orders. It operates through the following business segments: Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer services.

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