Wall Street brokerages expect that Moneygram International Inc (NASDAQ:MGI) will report $387.87 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Moneygram International’s earnings. The highest sales estimate is $389.00 million and the lowest is $386.61 million. Moneygram International posted sales of $410.00 million during the same quarter last year, which suggests a negative year over year growth rate of 5.4%. The company is expected to report its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Moneygram International will report full-year sales of $1.53 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.54 billion. For the next year, analysts anticipate that the company will report sales of $1.56 billion per share, with estimates ranging from $1.54 billion to $1.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Moneygram International.

Moneygram International (NASDAQ:MGI) last announced its earnings results on Friday, August 3rd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06. Moneygram International had a negative return on equity of 8.32% and a negative net margin of 2.27%. The company had revenue of $374.60 million for the quarter, compared to analyst estimates of $387.37 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year.

MGI has been the topic of several recent analyst reports. Zacks Investment Research raised Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Friday, August 10th. Morgan Stanley reduced their target price on Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Monday, August 6th. Finally, BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.63.

NASDAQ:MGI traded up $0.31 during mid-day trading on Tuesday, hitting $6.05. 7,956 shares of the company’s stock traded hands, compared to its average volume of 333,014. Moneygram International has a twelve month low of $5.56 and a twelve month high of $16.49. The firm has a market capitalization of $338.64 million, a P/E ratio of 6.52 and a beta of 1.93. The company has a debt-to-equity ratio of -2.15, a current ratio of 0.05 and a quick ratio of 0.05.

Several institutional investors and hedge funds have recently modified their holdings of MGI. Clearline Capital LP purchased a new position in Moneygram International during the first quarter worth approximately $153,000. Cambria Investment Management L.P. purchased a new position in Moneygram International during the first quarter worth approximately $156,000. Citigroup Inc. boosted its position in Moneygram International by 7,783.5% during the first quarter. Citigroup Inc. now owns 19,630 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 19,381 shares in the last quarter. Element Capital Management LLC purchased a new position in Moneygram International during the first quarter worth approximately $187,000. Finally, Martingale Asset Management L P purchased a new position in Moneygram International during the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 86.12% of the company’s stock.

Moneygram International Company Profile

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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