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3 Companies Cowen Analysts See Ramping Up Capital Returns In 2017

Total System Services, Inc. NYSE:TSS, EVTC - 3 Companies Cowen Analysts See Ramping Up Capital Returns In 2017

Cowen analysts, led by George Mihalos, evaluated three companies — Vantiv Inc VNTV 0.63%, Equifax Inc. EFX 0.8% and Evertec Inc EVTC 0.23% — as potential issues accelerating their capital returns program next year. In addition to the three highlighted, the analyst expects Total System Services, Inc. TSS 2.01% to shift its tactics to follow suite shortly after.

The 3 In Focus

  • Vantiv: Cowen pointed out that the company did not buy back shares in the current year, despite buying back $200 million worth of buybacks last year. The analyst further added, "The company has $75 million remaining under a previously announced 2014 authorization." Additionally, the brokerage expects the company to deploy its free cash flow next year based on its projection of more than $700 million FCF.
  • Equifax: The lead analyst expects the company to generate FCF of over $770 million next year. The brokerage expects the company to restart its share buyback program, pointing out that it still has $667 million from its earlier authorization. Cowen sees the company boosting its dividend rate from $1.32 to $1.48 next year thus continuing its dividend growth streak since 2010.
  • Evertec: Cowen expects the company to be more aggressive next year following the $15.6 million shares worth of buyback in the first half of the current year. In 2015, the company bought back $55 million worth of shares. The brokerage expects the company to take out between 3 and 4 percent of its total outstanding shares. This would boost the "adjusted EPS growth to the high single digits from our forecasted 5 percent."
  • At Time Of Writing...

    • Equifax was trading at $132.13, up 0.18 percent on the day.
    • Evertec was trading at $16.98, up 0.53 percent.
    • Total System Services traded at $49.03, up 0.22 percent on the day.
    • Vantiv was up 0.55 percent, trading at $53.31.

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    DateFirmActionFromTo
    Aug 2016BairdUpgradesNeutralOutperform
    Jul 2016JefferiesMaintainsHold
    Jul 2016First AnalysisUpgradesEqual-weightOverweight

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