Australia's EML Payments hits 4-week high on robust outlook

EML Payments

25/11/2022 24:57

** Shares of payments solutions provider EML Payments
 EML.AX  reversed trade to jump as much as 15.1% to A$0.61 after
giving up 7.6% initially 
    ** EML hits the highest level since Oct. 28 
    ** Co expects revenues of A$240 mln ($162.02 mln) to A$260
mln in FY23 vs A$234.1 mln in FY22  urn:newsml:reuters.com:*:nFWN32K0IB
    ** Sees benefits from the normalization of interest rates
from their historic low levels 
    ** EML increases FY23 interest rate guidance to a range of
A$17 mln to A$21 mln from A$10 mln 
    ** Analysts at RBC say EML guided FY23 revenue A$240-260 mln
vs A$258 mln consensus and underlying EBITDA guide was A$26-34
mln vs A$40 mln consensus
    ** Shares are on track for their biggest pct gain since Nov.
1 
    ** EML has added 24.5% in value so far this week; set for
its best since Nov. 2021 
    ** More than 5.05 mln shares change hands as compared with
the 30-day average volume of ~4.95 mln shares  
    ** Stock down 83.6% this year as of last close, vs a 2.7%
decrease in the benchmark S&P/ASX 200 index  .AXJO  
($1 = 1.4813 Australian dollars)
 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))