Deluxe (NYSE:DLX) Announces Earnings Results, Beats Estimates By $0.29 EPS

Deluxe (NYSE:DLX) posted its quarterly earnings results on Wednesday. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.29, Briefing.com reports. The business had revenue of $537.80 million during the quarter, compared to the consensus estimate of $537.90 million. Deluxe had a return on equity of 20.90% and a net margin of 1.78%. Deluxe’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Deluxe updated its FY 2024 guidance to 3.100-3.400 EPS and its FY24 guidance to $3.10 to $3.40 EPS.

Deluxe Trading Down 5.5 %

DLX stock traded down $1.21 during trading on Friday, hitting $20.65. The company had a trading volume of 342,127 shares, compared to its average volume of 263,323. The business has a 50-day moving average of $22.50 and a 200-day moving average of $21.06. Deluxe has a one year low of $16.00 and a one year high of $24.87. The stock has a market cap of $909.63 million, a PE ratio of 26.82, a PEG ratio of 0.62 and a beta of 1.47. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 2.44.

Deluxe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Monday, August 19th. Deluxe’s payout ratio is presently 155.85%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Northcoast Research assumed coverage on Deluxe in a research note on Friday, April 19th. They set a “buy” rating and a $27.00 target price for the company. StockNews.com cut Deluxe from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 28th. Finally, TD Cowen boosted their price target on Deluxe from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th.

Insider Activity at Deluxe

In related news, CEO Barry C. Mccarthy bought 2,440 shares of Deluxe stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $21.63 per share, for a total transaction of $52,777.20. Following the completion of the acquisition, the chief executive officer now directly owns 175,850 shares of the company’s stock, valued at approximately $3,803,635.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 2,675 shares of company stock worth $58,063 over the last ninety days. Insiders own 4.23% of the company’s stock.

About Deluxe

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.