VeriFone Systems Lowered to Market Perform at Raymond James (PAY)
VeriFone Systems (NYSE:PAY) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.
Shares of VeriFone Systems (NYSE:PAY) opened at 35.05 on Friday. VeriFone Systems has a 52-week low of $21.44 and a 52-week high of $38.26. The stock has a 50-day moving average of $34.63 and a 200-day moving average of $33.7. The company’s market cap is $3.916 billion.
VeriFone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $458.90 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts predict that VeriFone Systems will post $1.45 earnings per share for the current fiscal year.
PAY has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of VeriFone Systems in a research note on Monday, August 18th. They now have a $36.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of VeriFone Systems in a research note on Wednesday, August 13th. They now have a $41.00 price target on the stock, up previously from $39.00. Finally, analysts at Goldman Sachs reiterated a “neutral” rating on shares of VeriFone Systems in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.58.
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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