MoneyGram beats third quarter earnings estimates

by Jonathan Adams

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.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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