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Short-Term Investor Stock CATM Gains 10.0%

The stock, Cardtronics plc (CATM), featured on our 'Short-Term Investor' on November 2, 2018, at an opening price of $34.00. On April 1, 2019, the stock touched an intra-day high of $37.41, representing a gain of 10.0%. The stock closed yesterday's trade at $27.52.

Why we published this stock?

Cardtronics updated its fiscal 2018 guidance, while reporting upbeat profit for the third quarter.

FY18 Guidance

The company updated its fiscal 2018 guidance, and projected revenue in the range of $1.31 billion - $1.34 billion, GAAP net income of $8.8 million - $11.1 million, adjusted net income of $92.8 million - $95.4 million and adjusted EPS of $2.00 - $2.05. Wall Street analysts then expected earnings of $1.82 per share on revenue of $1.3 billion for 2018.

Q3 Results

The company's Q3 GAAP net income was $8.8 million, or $0.19 per share, compared to GAAP loss of $175.6 million, or $3.84 per share in the prior year. The prior year result was impacted by non-cash impairment charges related to the company’s Australia operation.

Adjusted Net Income per share for the quarter was $0.62 compared to $0.96 in the prior year, impacted by the removal of ATMs at 7-Eleven locations in the U.S.

Analysts polled by Thomson Reuters expected earnings of $0.42 per share. Analysts' estimate typically exclude certain special items.

Total revenues of $340.2 million, down 15% from $402.0 million in the prior year.

“The third quarter results were driven by solid operational execution and continued transaction strength in the U.S., resulting in strong growth in cash flow. Increased Allpoint and bank-branded transactions across many of our retailers drove 3% growth in our North America business, excluding the impact from 7-Eleven,” commented Edward West, Cardtronics’ chief executive officer.

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