Cardtronics USA, a wholly owned subsidiary of
) purchased the assets of Rohnert Park, Calif. based Merrimak ATM
Merrimak provides ATM sales, transaction processing and ATM
managed service to 4,800 ATMs across the nation. Though the
transaction culminated on Jun 3, details remain undisclosed.
Cardtronics, the world's largest retail ATM owner, strives to
provide convenient cash access and to meet its target has been on
an acquisition spree. Early last month, it purchased the assets
of Portland, Ore.-based Aptus Financial. Aptus Financial serves
3,300 ATMs across the nation. At the end of the first quarter of
2013, Cardtronics owned /operated about 62,600 retail ATMs
Moreover, as a part of ATM branding, in early April, Scotiabank
added 500 Cardtronics cash machines to the Scotiabank Mexico ATM
network. This embarked Cardtronics' efforts to move beyond
branding and servicing relationships in Canada, Puerto Rico and
the Caribbean to branding in Mexico.
Cardtronics' ATM operating revenues in the first quarter improved
9% year over year, driven by increased unit count as a result of
organic growth with new and existing merchants. We expect the
number to ramp up going forward given numerous such acquisitions.
The company expects to post $1.72 to $1.79 per share in earnings
on revenues of $835.0 million to $850.0 million in 2013. The
Zacks Consensus Estimate projects earnings of $1.61.
Cardtronics carries a Zacks Rank # 2 (Buy). Business Service
Essex Rental Corp
ExamWorks Group, Inc
) share the same Zacks Rank.
CARDTRONICS INC (CATM): Free Stock Analysis
ESSEX RENTAL (ESSX): Free Stock Analysis
EXAMWORKS GROUP (EXAM): Free Stock Analysis
RPX CORP (RPXC): Free Stock Analysis Report
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