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Euronet Worldwide (EEFT) shares rallied 10.1% within the final buying and selling session to shut at $133.25. This transfer might be attributable to notable quantity with the next variety of shares being traded than in a typical session. This compares to the inventory’s 2.7% acquire over the previous 4 weeks.
The basic driving issue might be attributed to the truth that Euronet joined the S&P MidCap 400, which can be efficient earlier than buying and selling opens on Feb 1. Compass Minerals Worldwide, Inc. CMP received changed because of Euronet’s inclusion within the S&P MidCap 400. Causes comparable to stable performances exhibited by Euronet’s Digital Funds Switch, epay and Cash Switch companies may need acted as tailwinds for the corporate.
This digital funds and transactions processor is anticipated to publish quarterly earnings of $1.33 per share in its upcoming report, which represents a year-over-year change of +19.8%. Revenues are anticipated to be $807.42 million, up 14.3% from the year-ago quarter.
Earnings and income progress expectations definitely give a great sense of the potential energy in a inventory, however empirical analysis exhibits that traits in earnings estimate revisions are strongly correlated with near-term inventory value actions.
For Euronet Worldwide, the consensus EPS estimate for the quarter has remained unchanged during the last 30 days. And a inventory’s value often would not maintain transferring greater within the absence of any pattern in earnings estimate revisions. So, be sure to keep watch over EEFT going ahead to see if this latest leap can flip into extra energy down the street.
The inventory at present carries a Zacks Rank #3 (Maintain). You possibly can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
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