Deluxe (NYSE:DLX) Announces Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Deluxe (NYSE:DLX) issued its quarterly earnings data on Wednesday. The business services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.57 by $0.29, Briefing.com reports. The company had revenue of $537.80 million during the quarter, compared to analysts’ expectations of $537.90 million. Deluxe had a net margin of 1.78% and a return on equity of 20.90%. Deluxe’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. Deluxe updated its FY 2024 guidance to 3.100-3.400 EPS and its FY24 guidance to $3.10 to $3.40 EPS.

Deluxe Price Performance

Deluxe stock traded down $1.21 during mid-day trading on Friday, hitting $20.65. 342,127 shares of the company traded hands, compared to its average volume of 263,323. Deluxe has a one year low of $16.00 and a one year high of $24.87. The stock has a market cap of $909.63 million, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.47. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.88 and a current ratio of 0.97. The stock has a fifty day moving average price of $22.50 and a 200-day moving average price of $21.06.

Deluxe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 5.81%. Deluxe’s payout ratio is presently 155.85%.

Insider Buying and Selling at Deluxe

In other Deluxe news, CEO Barry C. Mccarthy acquired 2,440 shares of the stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $21.63 per share, for a total transaction of $52,777.20. Following the acquisition, the chief executive officer now owns 175,850 shares in the company, valued at approximately $3,803,635.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 2,675 shares of company stock worth $58,063 over the last three months. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DLX shares. StockNews.com cut shares of Deluxe from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 28th. TD Cowen lifted their target price on shares of Deluxe from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Northcoast Research assumed coverage on shares of Deluxe in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 target price for the company.

About Deluxe

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.