VeriFone Systems Sets New 1-Year High at $36.74 (PAY)
VeriFone Systems (NYSE:PAY)’s share price hit a new 52-week high during mid-day trading on Friday , AnalystRatingsNetwork.com reports. The company traded as high as $36.74 and last traded at $36.36, with a volume of 3,598,603 shares. The stock had previously closed at $33.82.
A number of research firms have recently commented on PAY. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of VeriFone Systems in a research note on Friday. They now have a $38.00 price target on the stock, up previously from $34.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of VeriFone Systems in a research note on Friday. They now have a $39.00 price target on the stock, up previously from $36.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of VeriFone Systems in a research note on Friday. They now have a $39.00 price target on the stock, up previously from $37.00. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.33.
The stock’s 50-day moving average is $33.25 and its 200-day moving average is $29.76. The company’s market cap is $4.079 billion. VeriFone Systems also was the recipient of unusually large options trading activity on Thursday. Traders bought 7,287 put options on the stock. This is an increase of 497% compared to the typical daily volume of 1,221 put options.
VeriFone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.33 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts expect that VeriFone Systems will post $1.43 EPS for the current fiscal year.
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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