In the last trading session, 3.25 million Ebix Inc. (NASDAQ:EBIX) shares changed hands as the company’s beta touched 2.48. With the company’s per share price at $5.15 changed hands at $0.53 or 11.47% during last session, the market valuation stood at $159.14M. EBIX’s last price was a discount, traded about -538.25% off its 52-week high of $32.87. The share price had its 52-week low at $3.11, which suggests the last value was 39.61% up since then. When we look at Ebix Inc.’s average trading volume, we note the 10-day average is 6.29 million shares, with the 3-month average coming to 1.93 million.
Analysts gave the Ebix Inc. (EBIX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended EBIX as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Ebix Inc.’s EPS for the current quarter is expected to be $0.16.
Ebix Inc. (NASDAQ:EBIX) trade information
Instantly EBIX was in green as seen at the end of in last trading. With action 44.87%, the performance over the past five days has been green. The jump to weekly highs of 7.27 on Friday, 11/17/23 added 11.47% to the stock’s daily price. The company’s shares are showing year-to-date downside of -74.20%, with the 5-day performance at 44.87% in the green. However, in the 30-day time frame, Ebix Inc. (NASDAQ:EBIX) is -14.59% down. Looking at the short shares, we see there were 11.38 million shares sold at short interest cover period of 6.51 days.
The consensus price target for the stock as assigned by Wall Street analysts is $14.75, meaning bulls need an upside of 65.08% from its current market value. According to analyst projections, EBIX’s forecast low is $5.00 with $24.50 as the target high. To hit the forecast high, the stock’s price needs a -375.73% plunge from its current level, while the stock would need to tank 2.91% for it to hit the projected low.
Ebix Inc. (EBIX) estimates and forecasts
Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ebix Inc. will fall -38.50%, while the growth in revenue is estimated to hit 21.70% for the next quarter. Year-over-year growth is forecast to reach -41.50% down from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $129.33 million. 1 analysts are of the opinion that Ebix Inc.’s revenue for the quarter ending Mar 2024 will be $128.06 million. The company’s revenue for the corresponding quarters a year ago was $255.21 million and $242.76 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -49.30%. The estimates for the next quarter sales put growth at -47.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -7.89%. The 2023 estimates are for Ebix Inc. earnings to decrease by -73.26%, but the outlook for the next 5-year period is at 10.00% per year.
Ebix Inc. is expected to release its next quarterly earnings report on November 14. The 5.83% annual yield figure for the share gives it an annual dividend of 0.30. It is important to note, however, that the 5.83% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Ebix Inc. (NASDAQ:EBIX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 21.53% of Ebix Inc. shares while 66.27% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.45%. There are 66.27% institutions holding the Ebix Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 12.91% of the shares, roughly 3.99 million EBIX shares worth $100.54 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.43% or 3.22 million shares worth $81.25 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 1.67 million shares estimated at $16.47 million under it, the former controlled 5.40% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.48% of the shares, roughly 0.77 million shares worth around $19.28 million.