Euronet Buys Pure Commerce - Analyst Blog
09 1월 2013 - 11:50PM
Zacks
Euronet Worldwide Inc. (EEFT) recently
announced the purchase of Australia based Pure Commerce.
The deal entails Euronet to have Pure Commerce’s portfolio of
services and make them available to the global, local and online
merchant acquirers, banks and retailers and helps Euronet to
penetrate into more markets. It is expected to increase Euronet’s
annual cash earnings per share by 3 cents to 4 cents in 2013. The
Zacks Consensus Estimate for full year 2013 is currently pegged at
$1.64, reflecting a 17.5% year over year improvement.
Pure Commerce is a provider of an array of services consisting of
currency conversion payment and multi-currency acquiring services
for point-of-sale terminals, online applications and ATMs in high
foreign card volume locations. It mainly caters to leading
international banks, acquirers and global merchants worldwide, with
more focus in Asia Pacific and Europe.
Similar to Euronet, Pure Commerce is quite popular with consumers
as it provides user friendly solutions. Thus being part of the
Euronet team, Pure Commerce is expected to enhance the acquirer’s
value added payment solutions profile. Euronet expects the
acquisition to consolidate its Asia Pacific operations besides
offering its customers with better revenue sources through Pure
Commerce’s products and services.
There has been no earnings momentum in the last seven days. We
expect the estimates to move north over the optimism of the recent
acquisition.
In order to expand its operations, Euronet engages in a number of
merger and acquisition activities. Recently, Euronet’s ePay
division also entered into partnership with Europe’s leading
provider of merchant accounts, World Pay to help retailers earn
excellent commission rates through improved card payment
options.
The company expects adjusted EPS for the fourth quarter of 2012 to
be 47 cents, which is above the current Zacks Consensus Estimate of
42 cents and reflects a year-over-year improvement of 42%.
That of full year 2012 is pegged at $1.40, reflecting a 10.0%
improvement year-over-year.
Euronet currently holds a Zacks Rank #1 (Strong Buy). Companies
like Moneygram International New (MGI) and
Western Union Co. (WU) closely compete with
Euronet. Western union carries a Zacks Rank #4 (Sell) while
Moneygram carries a Zacks Rank # 3 (Hold).
EURONET WORLDWD (EEFT): Free Stock Analysis Report
MONEYGRAM INTL (MGI): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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Western Union (NYSE:WU)
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