JP Morgan Downgrades Cardtronics to Neutral

Brokerage firm JP Morgan Downgrades its rating on Cardtronics(NASDAQ:CATM). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Aug 19, 2016.

In a different note, On Aug 1, 2016, Jefferies said it Maintains its rating on Cardtronics. In the research note, the firm Raises the price-target to $46.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 29, 2016, Barrington Research said it Downgrades its rating on Cardtronics. The shares have been rated ‘Market Perform’ by the firm.

Cardtronics (CATM) shares turned negative on Mondays trading session with the shares closing down -0.21 points or -0.47% at a volume of 2,62,423. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $45.16. The peak price level was also seen at $45.16 while the days lowest was $44.75. Finally the shares closed at $44.79. The 52-week high of the shares is $48.46 while the 52-week low is $28.01. According to the latest information available, the market cap of the company is $2,026 M.

Cardtronics(CATM) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $323.96M. Analysts had an estimated revenue of $315.36M. Earnings per share were $0.80. Analysts had estimated an EPS of $0.77.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, Rick Updyke (EVP Global Markets & Accounts) sold 9,182 shares at $47.15 per share price.Also, On Aug 16, 2016, Gerardo Garcia (Chief Info. Security Officer) sold 10,000 shares at $46.11 per share price.On Aug 11, 2016, J Tim Arnoult (director) sold 5,000 shares at $45.71 per share price, according to the Form-4 filing with the securities and exchange commission.

Cardtronics Inc. (Cardtronics) provides automated consumer financial services. The Company provides these services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. The Company’s operations consist of its U.S. Europe and Other International segments. Its U.S. segment includes the Company’s operations in all 50 states Puerto Rico and the U.S. Virgin Islands. Its Europe segment includes the Company’s operations in the United Kingdom and Germany. The Company’s Other International segment includes its operations in Mexico and Canada. Under the managed services arrangement retailers financial institutions and ATM distributors rely on the Company to handle some or all of the operational aspects associated with operating and maintaining ATMs. The Company deploys and operates devices under three arrangements with its retail partners: Company-owned ATM placements merchant-owned ATM placements and managed services.

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