Why Cardtronics Jumped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Cardtronics (NAS: CATM) have jumped today by as much as 11% after the company reported strong quarterly earnings.
So what: Revenue rose 38% to $191 million, much higher than the $171.4 million that investors were expecting. The bottom line also came in better than expected with a $0.38 per share profit. CEO Steve Rathgaber said the increase in tax refunds made on prepaid cards and subsequent ATM cash withdrawals were one factor boosting results.
Now what: On top of that, Cardtronics boosted its full year guidance, which helped send shares to all-time highs. The company raised its revenue target from a range of $735 million-$750 million to a new range of $755 million-$770 million. The bottom line is also predicted to be higher, in the ballpark of $1.58-$1.64 per share for the full year.
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At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.