Brokerages expect i3 Verticals Inc (NASDAQ:IIIV) to announce sales of $38.19 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for i3 Verticals’ earnings, with estimates ranging from $37.97 million to $38.56 million. i3 Verticals posted sales of $84.05 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 54.6%. The business is expected to announce its next earnings results on Monday, January 1st.
On average, analysts expect that i3 Verticals will report full year sales of $135.30 million for the current fiscal year, with estimates ranging from $135.00 million to $135.59 million. For the next year, analysts forecast that the company will report sales of $152.89 million, with estimates ranging from $150.00 million to $154.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for i3 Verticals.
i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.02 million. i3 Verticals had a negative net margin of 0.36% and a positive return on equity of 14.53%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share.
A number of research firms have recently commented on IIIV. KeyCorp upped their price target on shares of i3 Verticals from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Zacks Investment Research upgraded shares of i3 Verticals from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine cut shares of i3 Verticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. BTIG Research set a $31.00 target price on shares of i3 Verticals and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Bank of America initiated coverage on shares of i3 Verticals in a report on Tuesday, August 13th. They set a “neutral” rating and a $23.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.33.
Shares of NASDAQ IIIV traded down $0.72 during mid-day trading on Tuesday, reaching $22.47. The company had a trading volume of 2,035 shares, compared to its average volume of 248,113. The business’s 50-day moving average is $26.86 and its 200-day moving average is $24.82. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. The stock has a market cap of $652.08 million, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.22. i3 Verticals has a 52 week low of $17.11 and a 52 week high of $31.44.
In other news, Director David K. Morgan purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $21.35 per share, with a total value of $42,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory S. Daily purchased 84,800 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $23.49 per share, with a total value of $1,991,952.00. The disclosure for this purchase can be found here. 56.20% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in IIIV. TimesSquare Capital Management LLC purchased a new stake in shares of i3 Verticals during the second quarter valued at about $33,773,000. Royal Bank of Canada purchased a new stake in shares of i3 Verticals during the second quarter valued at about $9,841,000. Polar Asset Management Partners Inc. purchased a new stake in shares of i3 Verticals during the second quarter valued at about $8,678,000. Vanguard Group Inc. lifted its position in shares of i3 Verticals by 56.9% during the second quarter. Vanguard Group Inc. now owns 619,909 shares of the company’s stock valued at $18,256,000 after buying an additional 224,833 shares during the last quarter. Finally, Southside Capital LLC purchased a new stake in shares of i3 Verticals during the second quarter valued at about $5,036,000. 39.65% of the stock is owned by institutional investors and hedge funds.
About i3 Verticals
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.
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