Verifone Systems, Inc. (NYSE:PAY)‘s stock had its “hold” rating restated by investment analysts at BTIG Research in a research report issued to clients and investors on Monday.
The analysts wrote, “Near-Term Challenges; FY17 EPS Guidance Reduced VeriFone Systems’ (PAY) management in conjunction with the 3Q17 report the company released yesterday after the market close offered plenty of positive commentary about the prospects of its next-generation devices and services, as well as its ongoing mix shift from episodic hardware sales to higher-margin, recurring services revenue.””
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Verifone Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded Verifone Systems from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. BMO Capital Markets decreased their price objective on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price objective (up previously from $20.00) on shares of Verifone Systems in a research note on Monday. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Verifone Systems in a research note on Sunday, June 11th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. Verifone Systems has a consensus rating of “Hold” and an average target price of $18.81.
Shares of Verifone Systems (NYSE PAY) opened at 21.31 on Monday. The firm’s 50 day moving average is $19.31 and its 200 day moving average is $18.73. Verifone Systems has a 52-week low of $14.94 and a 52-week high of $21.31. The stock’s market capitalization is $2.38 billion.
Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $466.90 million during the quarter, compared to analysts’ expectations of $464.13 million. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Equities analysts expect that Verifone Systems will post $1.30 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc lifted its stake in Verifone Systems by 76.7% in the first quarter. Legal & General Group Plc now owns 98,467 shares of the business services provider’s stock valued at $1,845,000 after buying an additional 42,756 shares during the last quarter. Rhumbline Advisers lifted its stake in Verifone Systems by 5.0% in the second quarter. Rhumbline Advisers now owns 228,791 shares of the business services provider’s stock valued at $4,141,000 after buying an additional 10,875 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Verifone Systems by 300.1% in the second quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock valued at $90,982,000 after buying an additional 3,770,155 shares during the last quarter. Schafer Cullen Capital Management Inc. lifted its stake in Verifone Systems by 14.5% in the first quarter. Schafer Cullen Capital Management Inc. now owns 16,950 shares of the business services provider’s stock valued at $317,000 after buying an additional 2,150 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Verifone Systems by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock valued at $2,029,000 after buying an additional 281 shares during the last quarter.
About Verifone Systems
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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