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Barrington Research Sees Better-Than-Expected Q2/14 Adjusted EPS For Higher One

Dwight Einhorn

In a report published Monday, Barrington Research analyst Gary Prestopino reiterated a Market Perform rating on Higher One (NYSE: ONE).

In the report, Barrington Research noted, “Q2/14 adjusted EPS totaled $0.05 on a revenue increase of 14% to $45.5 million. Organic revenue growth was 11% in the quarter. Our estimates included revenue of $43.3 million and adjusted EPS of $0.04. The First Call consensus estimates called for revenue and adjusted EPS of $45.3 million and $0.06 per share, respectively. Account revenue increased 1.5% to $26.3 million; Payment Transactions revenue increased 61.6% to $9.8 million; Higher Education Institution revenue was up 17% to $9.1 million. Higher One has made solid progress on diversifying its revenue stream. On a year‐over‐year basis, Account revenue as a percentage of total revenue has decreased to 57.9% from 64.8%, while Payment Transaction and Higher Education revenue has increased to 21.6% and 20% of total revenue from 15.2% and 19.3%, respectively.”

Higher One closed on Friday at $3.73.

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