Moneygram International (MGI) Receives a Hold from Northland Securities
In a report issued on July 31, Michael Grondahl from Northland Securities maintained a Hold rating on Moneygram International (MGI). The company’s shares closed last Monday at $3.49.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 16.2% and a 58.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as International Money Express, WisdomTree Investments, and Front Yard Residential.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Moneygram International with a $3.00 average price target, which is a -16.0% downside from current levels. In a report released yesterday, Evercore ISI also upgraded the stock to Hold with a $3.00 price target.
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Based on Moneygram International’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $291 million and GAAP net loss of $21.5 million. In comparison, last year the company earned revenue of $315 million and had a GAAP net loss of $13.5 million.
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MoneyGram International, Inc. is a global payment services company, which offers global money transfers, bill payment solutions and money orders. It operates through the following business segments: Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer services. The Financial Paper Products segment offers money orders to consumers through retail and financial institutions. The company was founded in 1940 and is headquartered in Dallas, TX.
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