11-14-2018: Evertec, Inc. (EVTC): Not All Aspects of Puerto Rican Economy Were Devastated by Hurricanes

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Recommendation

Evertec, Inc.

Evertec, Inc. (EVTC) is a Puerto Rican company that engages in transaction processing throughout many parts of Latin America. It is a spinoff from Popular Bank which at one time controlled it and is still closely associated. The Zenith Index is acceptable but marginal indicating somewhat weak fundamentals, backed up by GMI Analyst accounting assessments and analysts. But Standard & Poor's gives it its highest rating.

Banking stocks and related enjoy higher interest rates that give them better returns on loans. This company did not suffer much if any damage from the hurricanes that devastated Puerto Rico, but does prosper from the need for loans there to rebuild. The company did much to help in a socially conscious way to donate and assist in recovery efforts.

Institutions are heavy net sellers, but Dimensional Fund Advisors is among them and they are acquiring, a good sign. The company has a good, informative website and good management reporting.

News on the stock consists largely of development of new software products to assist in commercial financial transactions, especially those associated with banks. Its stock takes advantage of better value often found in emerging market enterprises.

The stock has been very strong lately based upon positive investor sentiment, but several technical indicators predict the likelihood of an imminent pullback.

The company at one time issued bonds, which went to maturity and were all paid back, which we regard as a good sign. While the company has very high debt, it has not issued new bonds. We consider bonds preferable to issuance of new stock shares.

We have noted that Puerto Rican financial stocks, including insurance companies, have done quite well in recent markets for reasons not entirely clear. Perhaps they are benefitting from the need for insurance more than the cost of payouts. That might suggest in the past Latin American organizations were under-insured.



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Bond Issue

22

(Bonds have already matured for this stock.)



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

EVERTEC, Inc. (EVTC)                                      Exchange: NYSE
Cupey Center Building
Road 176 Kilometer 1.3           Sector: Technology
San Juan, PR 00926               Industry: Software - Infrastructure

EVERTEC, Inc. and its subsidiaries engage in transaction processing
business serving financial institutions, merchants, corporations, and
government agencies in Latin America and the Caribbean. The company
operates through four segments: Payment Services - Puerto Rico &
Caribbean, Payment Services - Latin America, Merchant Acquiring, and
Business Solutions. It provides merchant acquiring services, which
enable point of sales and e-commerce merchants to accept and process
electronic methods of payment, such as debit, credit, prepaid, and
electronic benefit transfer (EBT) cards. The company also offers payment
processing services that enable financial institutions and other issuers
to manage, support, and facilitate the processing for credit, debit,
prepaid, automated teller machines and EBT card programs; credit and
debit card processing, authorization and settlement, and fraud
monitoring and control services to debit or credit issuers; payment and
billing products for merchants, businesses, and financial institutions;
and EBT services. In addition, it provides business process management
solutions comprising core bank processing, network hosting and
management, IT consulting services, business process outsourcing, item
and cash processing, and fulfillment solutions to financial
institutions, and corporate and government customers. The company
manages a system of electronic payment networks that process
approximately two billion transactions. It sells and distributes its
services primarily through a proprietary direct sales force, as well as
various indirect sales channels, including value-added resellers. The
company was formerly known as Carib Latam Holdings, Inc. EVERTEC, Inc.
was founded in 1988 and is headquartered in San Juan, Puerto Rico.

Last Trade:  28.48                           52-Week Range:  29.71 -  12.60
Employees: 2,100                             Avg.Volume:     458,198 Shares

Corporate Governance:
Pllar scores are Audit: 10; Board: 1; Shareholder Rights: 6; Compensation: 9.
         (A lower number means less governance risk.)

EPS:  0.98    Dividend Amount: $ 0.20          Yield:  0.70%
             Ex-Dividend Date: Nov 1, 2018     Payout Ratio:   5.10

Key Statistics:

    Trailing P/E:  27.75              Forward P/E (est.):  13.85
                                           Target Price:  27.00

Qrtly Stock Price Growth (yoy): 118.24%               Beta:   0.00
Qrtly S&P Index   Growth (yoy):   9.00%        Short Ratio:   1.71%
    Qrtly Revenue Growth (yoy):   7.84%         Shares Out:  70610000
   Qrtly Earnings Growth (yoy): 276.90%

          Book Value:   2.99                    Debt/Equity: 262.91%
    Price/Book Value:   9.14        Operating Profit Margin:  25.68%
         Price/Sales:   4.43                  Profit Margin:  16.52%
         Market Cap:   1,926,000,000       Return on Equity:  40.98%
    Enterprise Value:   2,490,000,000      Return on Assets:   7.62%

    Operating Cash Flow:    165,790,000
         Free Cash Flow:    106,070,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2017  12/31/2016  12/31/2015

  Total Revenue                                407,144     389,507     373,528
  Cost of Revenue                              195,650     175,809     167,916
  Gross Profit                                 211,494     213,698     205,612

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative             56,161      46,986      37,278
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                     316,061     282,362     270,168

Operating Income or Loss                        91,083     107,145     103,360

Income from Continuing Operations:
  Total Other Income/Expenses Net              -30,884     -23,748     -21,318
  Earnings Before Interest & Taxes              91,083                107,145  E
arnings Before Interest & Taxes             103,360
  Interest Expense                             -29,861     -24,617     -24,266
  Income Before Taxes                           60,199      83,397      82,042
  Income Tax Expense                             4,780       8,271      -3,335
  Minority Interest                              3,864       3,499       3,499

Net Income from Continuing Op.s                 55,419      75,126      85,377

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                    55,054      75,036      85,377
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares               55,044      75,024      85,368



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2017    12/31/2016    12/31/2015

  Net Income                                55,419        75,126        85,377

Operating Activities:
  Depreciation                              48,350        45,267        44,874
  Adjustments to Net Income                 17,811         8,152         4,240
  Changes in Accounts Recv'bls              -2,099        -2,583        -4,482
  Changes in Liabilities                     7,574        22,612        18,154
  Changes in Investories                         0             0             0
  Changes in other Oper'g Acts              -1,583           531        -8,567

Total Cash Flow f Operations               145,786       168,054       162,419

Investing Activities:
  Capital Exenditures                      -11,290       -18,450       -21,022
  Investments                                    0             0             0
  Other Cash Flows fr Investing             -1,832         3,705        -6,100

Total Cash Flows from Investing            -78,100       -54,083       -53,068

Financing Activities:
  Dividends Paid                           -21,762       -29,696       -30,921
  Sale of Purchase of Stock                      0             0             0
  Net Borrowings                           -38,162       -12,191       -26,542
  Other Cash Flows fr Financing                  0        -8,417        -6,100

Total Cash Flows from Financing            -69,183       -90,798      -112,718

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.                -1,497        23,173        -3,367



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2017    12/31/2016    12/31/2015
Current Assets:
  Cash & Cash Equivalents                    50,423        51,920        28,747
  Short Term Investments                          0             0             0
  Net Receivables                            74,379        71,865        67,411
  Inventory                                       0             0             0
  Other Current Assets                       38,041        31,554        35,459
  Total Current Assets                      162,843       155,339       131,617

  Long-Term Investments                      13,287        12,252        12,264
  Property, Plant & Equipt                   37,924        38,930        34,128
  Goodwill                                  398,575       370,986       368,133
  Intangible Assets                         281,596       301,429       312,059
  Accumulated Amortization                        0             0             0
  Other Assets                                2,700         3,800         2,347
  Deferred LT Asset Charges                   1,000           800             0

Total Assets                                902,788       885,662       863,654

Current Liabilities:
  Accounts Payable                           41,135        40,845        21,216
  Current Portion LT Debt                    46,487        19,789        22,750
  Other Current Liabilities                   9,143         6,286         4,227
  Total Current Liabilities                  96,765        66,920         48,193

  Long Term Debt                             41,135        40,845        21,216
  Other Liabilities                          46,487        19,789        22,750
  Deferred LT Liab. Charges                   9,143         6,286         4,227
  Minority Interest                           3,864         3,499         3,499
  Negative Goodwill                           3,864         3,499             0

Total Liabilities                           710,125       718,743       711,132

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                  723           726           750
  Retained Earnings                         148,887       116,341        95,328
  Treasury Stock                            -10,848       -12,391        -7,582
  Capital Surplus                             5,350             0         9,718
  Other Stockhohlder Equity                 -10,848       -12,391        -7,582
  Total Stockholder Equity                  144,112       104,676        98,214

Net Tangible Assets                        -536,059      -567,739      -581,978


EVERTEC, Inc. (EVTC)                        [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.0090          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  3.0000          Forward P/E Ratio < 28?    2.0217
Price/Sales Ratio < 2.3?   0.5192          Inventory/Sales < 5%?      1.0000
Sales < $1 Billion?        2.4561          Operating Margin < 7.5%?   0.2921

Balance Sheet Tests:
Debt/Equity < 0.40?        0.1521          Long-Term Debt Service:    0.3457
LTD Being Reduced?         3.0000          Short-Term Debt Service:  -3.0000
Current Ratio > 2?         0.8414          Working Capital >= 1.5?    0.9032
Leverage Ratio < 20%?      0.0584          Debt/Assets < 1?           1.6201
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    1.0000
Share Equity Increase:     2.4425          Market Cap.< 1.5 Billion?  0.7788
                                           Intangibles < 3% Assets?   0.0398
Income Tests:
Profit Margin < 7.5%?      2.2026          EPS Annual Growth > 10%?   0.1363
Dividend Yield > 2.0%?     2.8571          EPS 3-yr Growth > 15?      0.2326
Enterprise Value/Revenue   3.0000          EPS Growth Consistent?    -2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.6749
EPS Qrtly Growth > 10%?    0.0004          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%? -1.1197
Stock Performance Tests:
Volatility > 25%?          2.3036          % Held by Insiders < 5%?   0.2985
Beta > 1.25?               0.0000          % Held by Institut. < 50?  0.5850
50 Da MA > 200 Da MA?      0.1622          % Held by Institut. > 30?  2.8490
52-Wk Change vs. S&P 500:  3.0000          Short Ratio > 5?           0.3420
Price/Book Value < 3?      0.3150          Short % of Float > 20?     0.0840
Return on Assets > 17%?    0.4482          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  1.5630          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  2.1303
                                           Cash Flow / Assets > 10%?  3.0000

EVTC   EVERTEC, Inc.                       Overall Zenith Index:      1.2360


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Financial Statements

EVERTEC INC  (EVTC)                         INCOME STATEMENT

Fiscal year ends in December.                        2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Revenue                                          357,240,000     361,128,992     373,528,000     389,507,008     407,144,000     435,265,984
Cost of revenue                                  162,303,008     156,516,992     167,916,000     175,808,992     200,650,000     196,763,008
Gross profit                                     194,936,992     204,612,000     205,612,000     213,698,000     206,494,000     238,503,008


Operating expenses
Sales, General and administrative                 38,810,000      41,276,000      37,278,000      46,986,000      56,161,000      61,814,000
Other operating expenses                          70,366,000      65,988,000      64,974,000      59,567,000      64,250,000      63,444,000
Total operating expenses                         109,176,000     107,264,000     102,252,000     106,553,000     120,411,000     125,258,000

Operating income                                  85,761,000      97,348,000     103,360,000     107,145,000      86,083,000     113,245,000
Interest Expense                                  37,861,000      26,081,000      24,266,000      24,617,000      29,861,000      30,308,000
Other income (expense)                           -74,511,000       3,843,000       2,948,000         869,000       3,977,000       3,191,000
Income before taxes                              -26,611,000      75,110,000      82,042,000      83,397,000      60,199,000      86,128,000
Provision for income taxes                        -1,990,000       7,578,000      -3,335,000       8,271,000       4,780,000      13,881,000
Net income from continuing operations            -24,621,000      67,532,000      85,377,000      75,126,000      55,419,000      72,247,000
Other                                                      0               0               0         -90,000        -365,000        -342,000
Net income                                       -24,621,000      67,532,000      85,377,000      75,036,000      55,054,000      71,905,000
Preferred dividend                                         0               0           9,000          12,000          10,000           5,000
Net income available to common shareholders      -24,621,000      67,532,000      85,368,000      75,024,000      55,044,000      71,900,000

Earnings per share
Basic                                                  -0.31            0.86            1.11            1.01            0.76            0.99 
Diluted                                                -0.31            0.86            1.11            1.01            0.76            0.98 

Weighted average shares outstanding
Basic                                             78,914,312      78,337,152      77,066,456      74,132,864      72,479,808      72,540,512
Diluted                                           78,914,312      78,891,136      77,181,120      74,473,368      72,872,192      73,647,248

____________________________________________________________________________________________________________________________________________


EVERTEC INC  (EVTC)                         BALANCE SHEET

Fiscal year ends in December.                        2013-12         2014-12         2015-12         2016-12         2017-12             

Assets

Current assets

Cash

Total cash                                        22,485,000      32,114,000      28,747,000      51,920,000      50,423,000

Receivables                                       46,200,000      53,503,000      52,652,000      52,663,000      57,740,000
Deferred income taxes                              2,537,000         399,000       1,685,000               0               0
Prepaid expenses                                  17,524,000      12,784,000       9,849,000      11,232,000      13,195,000
Other current assets                              27,667,000      35,806,000      41,790,000      42,450,000      47,348,000
Total current assets                             116,413,000     134,606,000     134,723,008     158,264,992     168,706,000

Non-current assets

Property, plant and equipment
Gross property, plant and equipment               80,795,000      91,115,000     109,372,000     118,361,000     108,717,000
Accumulated Depreciation                         -47,555,000     -61,580,000     -75,244,000     -79,431,000     -70,793,000
Net property, plant and equipment                 33,240,000      29,535,000      34,128,000      38,930,000      37,924,000

Equity and other investments                      10,639,000      11,756,000      12,264,000      12,252,000      13,073,000
Goodwill                                         373,119,008     368,836,992     368,132,992     370,985,984     398,575,008
Intangible assets                                367,780,000     334,584,000     312,059,008     299,119,008     279,960,992
Deferred income taxes                                      0               0               0         805,000               0
Other long-term assets                            18,162,000      10,917,000       8,795,000       5,305,000       4,549,000
Total non-current assets                         802,940,032     755,628,992     735,379,008     727,396,992     734,081,984

Total assets                                     919,353,024     890,235,008     870,102,016     885,662,016     902,787,968 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                   70,200,000      42,000,000      39,750,000      47,789,000      58,487,000
Accounts payable                                  18,630,000      22,879,000      21,216,000      40,845,000      41,135,000
Deferred income taxes                                543,000       1,799,000               0               0               0
Taxes payable                                        259,000       1,956,000       1,350,000       1,755,000       1,406,000
Accrued liabilities                               26,571,000      26,052,000      37,308,000      34,243,000      38,451,000
Deferred revenues                                  5,595,000       9,825,000       2,877,000       4,531,000       7,737,000
Total current liabilities                        121,798,000     104,511,000     102,501,000     129,163,000     147,216,000

Non-current liabilities
Long-term debt                                   665,680,000     647,579,008     625,745,024     599,667,008     557,251,008
Deferred taxes liabilities                        20,212,000      15,674,000      20,614,000      14,978,000      13,820,000
Deferred revenues                                          0               0      10,939,000      17,303,000      23,486,000
Minority interest                                          0               0               0       3,499,000       3,864,000
Other long-term liabilities                          333,000       2,898,000      12,089,000      16,376,000      13,039,000
Total non-current liabilities                    686,225,024     666,150,976     669,387,008     651,822,976     611,459,968

Total liabilities                                808,022,976     770,662,016     771,888,000     780,985,984     758,675,968 

Stockholders' equity

Common stock                                         783,000         779,000         750,000         726,000         723,000
Additional paid-in capital                        80,718,000      59,740,000       9,718,000               0       5,350,000
Retained earnings                                 29,403,000      65,576,000      95,328,000     116,341,000     148,887,008
Accumulated other comprehensive income               426,000      -6,522,000      -7,582,000     -12,391,000     -10,848,000
Total stockholders' equity                       111,330,000     119,573,000      98,214,000     104,676,000     144,112,000
Total liabilities and stockholders' equity       919,353,024     890,235,008     870,102,016     885,662,016     902,787,968

____________________________________________________________________________________________________________________________________________


EVERTEC INC  (EVTC)                         Statement of CASH FLOW

Fiscal year ends in December. USD.                   2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Cash Flows From Operating Activities
Net income                                       -24,621,000      67,532,000      85,377,000      75,126,000      55,419,000      72,247,000
Depreciation & amortization                       70,366,000      65,988,000      64,974,000      59,567,000      64,250,000      63,444,000
Amortization of debt discount/premium and is       3,905,000       3,094,000       3,329,000       4,334,000       5,128,000               0
Investment/asset impairment charges               16,555,000               0               0       2,277,000      11,441,000       4,968,000
Investments losses (gains)                           984,000         326,000               0               0               0               0
Deferred income taxes                             -5,702,000      -1,713,000      -3,090,000      -4,594,000      -4,306,000        -702,000
Stock based compensation                           6,179,000       4,587,000       5,204,000       6,408,000       9,642,000      12,755,000
Change in working capital                         -5,458,000      -1,266,000       4,513,000      20,965,000       3,543,000       7,116,000
Accounts receivable                                9,243,000      -6,608,000      -4,482,000      -2,583,000      -2,099,000      -7,609,000
Prepaid expenses                                   1,685,000      -1,067,000        -132,000      -1,426,000      -4,048,000      -4,697,000
Income taxes payable                              -2,700,000       1,697,000        -606,000         405,000        -349,000         939,000
Other working capital                            -13,686,000       4,712,000       9,733,000      24,569,000      10,039,000      18,483,000
Other non-cash items                                 659,000       1,400,000       2,112,000       3,971,000         669,000       5,966,000
Net cash provided by operating activities         62,867,000     139,948,000     162,419,008     168,054,000     145,786,000     165,794,000

Cash Flows From Investing Activities
Investments in property, plant, and equipmen     -11,486,000     -10,898,000     -21,022,000     -18,450,000     -11,290,000     -12,625,000
Property, plant, and equipment reductions             16,000          59,000          14,000          81,000          32,000          17,000
Acquisitions, net                                          0               0               0     -15,600,000     -42,836,000               0
Purchases of intangibles                         -16,980,000     -15,046,000     -25,960,000     -23,819,000     -22,174,000     -21,604,000
Other investing activities                          -494,000        -285,000      -6,100,000       3,705,000      -1,832,000      -1,832,000
Net cash used for investing activities           -28,944,000     -26,170,000     -53,068,000     -54,083,000     -78,100,000     -36,044,000

Cash Flows From Financing Activities
Debt issued                                      737,800,000               0               0      75,763,000               0               0
Debt repayment                                  -768,620,032     -47,200,000     -26,542,000     -98,954,000     -38,162,000     -75,602,000
Common stock issued                              112,461,000         543,000               0               0               0               0
Common stock repurchased                         -75,000,000     -26,197,000     -54,949,000     -39,946,000      -7,671,000               0
Dividend paid                                    -16,390,000     -31,359,000     -30,921,000     -29,696,000     -21,762,000      -3,636,000
Other financing activities                       -27,323,000          64,000        -306,000       2,035,000      -1,588,000      -7,140,000
Net cash provided by (used for) financing        -37,072,000    -104,149,000    -112,718,000     -90,798,000     -69,183,000     -86,378,000

Net change in cash                                -3,149,000       9,629,000      -3,367,000      23,173,000      -1,497,000      43,372,000
Cash at beginning of period                       25,634,000      22,485,000      32,114,000      28,747,000      51,920,000      58,792,000
Cash at end of period                             22,485,000      32,114,000      28,747,000      51,920,000      50,423,000     102,164,000

Free Cash Flow
Operating cash flow                               62,867,000     139,948,000     162,419,008     168,054,000     145,786,000     165,794,000
Capital expenditure                              -28,466,000     -25,944,000     -46,982,000     -42,269,000     -33,464,000     -34,229,000
Free cash flow                                    34,401,000     114,004,000     115,437,000     125,785,000     112,322,000     131,565,000
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (EVTC)     Evertec Inc.

                               2013    2014    2015    2016    2017

          Annual Earnings:    -0.31    0.84    1.11    1.01    0.76
Average Price During Year:    22.83   22.87   20.07   15.17   16.67

                P/E Ratio:    73.64   27.22   18.08   15.02   21.94

 Average 5-Year P/E Ratio  =  31.18
             Current Price =  27.28

Previous 5 Quarter Earnings:   0.08    0.08    0.31    0.27    0.31

           Current Annualized (Last Four Quarters) Earnings =   0.89
                                                           ________
                                 Average PE / Current PE =     1.02
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . Lowest to Highest, Compared to Industry



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Fair Value Estimator

Fair Value Estimate:

Fair ValueFair Value



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Projected Earnings

Earnings Estimates



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Research Reports

Click Here for Research Reports



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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for EVERTEC INC.:
Symbol? EVTC
Total Months Available:  67
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  17.55   12.60     22.95   15.85     29.70   22.40

RANGE   =  29.70  TO   12.60            Close =  28.48
CHANNEL =  22.40  TO   17.55           Degree =   3
Volatility =  17.03%                    Index =   5
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

3 out of 8 favorable, (negative opinion.)

Val Idea
Val Idea


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Stock Consultant

Stock Consultant Stock Consultant


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Point & Figure Chart

P & F Chart


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Wall Street Analyzer



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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry + 1
Bond Issue + 1
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow + 1
Average to Current P/E + 1
Ratios - 1
Intrinsic Value DCF + 1
Fair Value Estimator - 1
Projected Earnings + 1
Research Reports + 1
Analysts - 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting + 1
Short Interest + 1
Sentiment + 1
Standard & Poor's + 1
MACD Histogram Divergence + 1
Val Idea - 1
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer + 1
Marketspace Chart - 1
Time Series Chart - 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems + 1
Total + 5
Place 1,085 shares of Evertec, Inc. (EVTC) on the Active List.