VeriFone Systems Inc (NYSE:PAY) – Stock analysts at Northcoast Research boosted their Q1 2018 EPS estimates for shares of VeriFone Systems in a report released on Thursday, according to Zacks Investment Research. Northcoast Research analyst K. Housum now anticipates that the business services provider will post earnings of $0.27 per share for the quarter, up from their previous estimate of $0.25. Northcoast Research currently has a “Neutral” rating on the stock.
Other equities analysts also recently issued reports about the stock. Jefferies Group reissued a “buy” rating and set a $23.00 price target (up from $20.00) on shares of VeriFone Systems in a report on Monday, September 11th. Zacks Investment Research raised shares of VeriFone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Bank of America initiated coverage on shares of VeriFone Systems in a report on Tuesday, September 12th. They set an “underperform” rating and a $19.00 price target for the company. Credit Suisse Group boosted their target price on shares of VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 13th. Finally, Raymond James Financial downgraded shares of VeriFone Systems from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $25.00 to $22.00 in a research note on Thursday, November 16th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $20.02.
VeriFone Systems (PAY) traded down $0.03 during midday trading on Monday, reaching $17.68. 1,138,515 shares of the company’s stock traded hands, compared to its average volume of 1,161,900. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97. VeriFone Systems has a 52 week low of $16.80 and a 52 week high of $21.48. The firm has a market cap of $1,990.22, a price-to-earnings ratio of -11.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.96.
VeriFone Systems (NYSE:PAY) last issued its earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $472.33 million. VeriFone Systems had a negative net margin of 9.29% and a positive return on equity of 13.52%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share.
VeriFone Systems declared that its Board of Directors has approved a stock buyback program on Tuesday, December 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of VeriFone Systems by 27,645.1% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 241,105 shares of the business services provider’s stock valued at $4,890,000 after buying an additional 240,236 shares during the period. GSA Capital Partners LLP acquired a new position in shares of VeriFone Systems in the third quarter valued at approximately $531,000. Neuberger Berman Group LLC boosted its holdings in shares of VeriFone Systems by 22.0% in the third quarter. Neuberger Berman Group LLC now owns 1,646,427 shares of the business services provider’s stock valued at $33,390,000 after buying an additional 297,362 shares during the period. California Public Employees Retirement System boosted its holdings in shares of VeriFone Systems by 1.6% in the third quarter. California Public Employees Retirement System now owns 1,147,906 shares of the business services provider’s stock valued at $23,280,000 after buying an additional 18,306 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of VeriFone Systems in the third quarter valued at approximately $591,000.
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VeriFone Systems Company Profile
VeriFone Systems, Inc offers payments and commerce solutions. The Company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. It provides solutions and services for the retail point-of-sale (POS) that enable various forms of commerce.
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