VeriFone Systems Inc (PAY) Releases Q3 Earnings Guidance
VeriFone Systems Inc (NYSE:PAY) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.33-0.34 for the period, compared to the Thomson Reuters consensus estimate of $0.37, Stock Ratings Network reports. The company issued revenue guidance of $455-460 million, compared to the consensus revenue estimate of $453.82 million.VeriFone Systems also updated its FY14 guidance to $1.42-1.44 EPS.
VeriFone Systems Inc (NYSE:PAY) traded down 0.09% during mid-day trading on Thursday, hitting $33.82. The stock had a trading volume of 2,365,683 shares. VeriFone Systems Inc has a 52 week low of $15.34 and a 52 week high of $35.38. The stock has a 50-day moving average of $33.21 and a 200-day moving average of $29.73. The company’s market cap is $3.758 billion.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $467.00 million for the quarter, compared to the consensus estimate of $443.42 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that VeriFone Systems Inc will post $1.43 earnings per share for the current fiscal year.
PAY has been the subject of a number of recent research reports. Analysts at Susquehanna downgraded shares of VeriFone Systems from a positive rating to a neutral rating in a research note on Monday, May 19th. On a related note, analysts at Zacks upgraded shares of VeriFone Systems from an underperform rating to a neutral rating in a research note on Friday, May 16th. They now have a $35.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of VeriFone Systems in a research note on Monday, May 12th. They set an overweight rating and a $21.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $30.73.
VeriFone Systems, Inc (NYSE:PAY), formerly VeriFone Holdings, Inc, is a holding company for VeriFone, Inc The Company is engaged in the secure electronic payment solutions.
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