MoneyGram beats third quarter earnings estimates

by Jonathan Adams
MoneyGram

MoneyGram shares have added nearly 17.1% since the beginning of the year compared to the S&P 500’s gain of 21.2%

MoneyGram (MGI) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 62.50%. A quarter ago, it was expected that this money transfer company would post earnings of $0.01 per share when it actually produced earnings of $0.01, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

MoneyGram posted revenues of $319.6 million for the quarter ended September 2021, missing the Zacks Consensus Estimate by 3.24%. This compares to year-ago revenues of $323.2 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

MoneyGram shares have added nearly 17.1% since the beginning of the year compared to the S&P 500’s gain of 21.2%.

Ahead of this earnings release, the estimate revisions trend for MoneyGram was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.

The current consensus EPS estimate is $0.09 on $335.4 million in revenues for the coming quarter and $0.16 on $1.31 billion in revenues for the current fiscal year.

However, the outlook for the industry can have a material impact on the performance of the stock as well.



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This article is for information purposes only.
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