A number of research firms have changed their ratings and price targets for VeriFone Systems (NYSE: PAY):

  • 9/20/2016 – VeriFone Systems had its price target lowered by analysts at Morgan Stanley from $23.00 to $16.00. They now have an “equal weight” rating on the stock.
  • 9/16/2016 – VeriFone Systems had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $18.00 price target on the stock.
  • 9/12/2016 – VeriFone Systems was downgraded by analysts at Imperial Capital from an “outperform” rating to an “in-line” rating. They now have a $18.00 price target on the stock, down previously from $24.00.
  • 9/9/2016 – VeriFone Systems is now covered by analysts at BTIG Research. They set a “buy” rating and a $21.00 price target on the stock.
  • 9/8/2016 – VeriFone Systems was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “strong sell” rating. According to Zacks, “Moody's Investors Services have given VeriFone a rating of 'credit negative' for its muted revenue expectations. The company had delivered mixed results in the recently reported third-quarter fiscal 2016 earnings. Revenues in the quarter fell short of the expectations though earnings managed to beat the Zacks Consensus Estimate. Sales were hit primarily due to the weakness in certain markets like Turkey and Latin America. Furthermore, delays in installations of the EMV enabled PoS in the U.S. also weighed on the financials. All this resulted in a muted revenue outlook for the rest of this fiscal. Nonetheless, VeriFone expects these restructuring activities to start generating significant savings over the long run.”
  • 9/6/2016 – VeriFone Systems was downgraded by analysts at Argus from a “buy” rating to a “hold” rating. They wrote, “VeriFone is increasing its focus on revenues from services, which accounted for 41 percent of total revenue in 3Q up from 35 percent a year earlier; however, systems revenue, including terminal sales, still accounts for the bulk of revenue. Given that management has lowered its sales and earnings guidance for several quarters, we believe that investors will need to regain confidence in the company’s growth prospects before the shares can move higher.”
  • 9/5/2016 – VeriFone Systems was upgraded by analysts at Vetr from a “sell” rating to a “strong-buy” rating. They now have a $19.56 price target on the stock.
  • 9/4/2016 – VeriFone Systems had its “hold” rating reaffirmed by analysts at Pacific Crest.
  • 9/4/2016 – VeriFone Systems had its “sector perform” rating reaffirmed by analysts at RBC Capital Markets. They now have a $23.00 price target on the stock, down previously from $28.00.
  • 9/2/2016 – VeriFone Systems had its price target lowered by analysts at Royal Bank Of Canada from $28.00 to $23.00. They now have a “sector perform” rating on the stock.
  • 9/2/2016 – VeriFone Systems was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating. They now have a $19.00 price target on the stock, down previously from $27.00.
  • 9/2/2016 – VeriFone Systems was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $20.00 price target on the stock, down previously from $30.00.
  • 9/2/2016 – VeriFone Systems had its price target lowered by analysts at Barclays PLC from $21.00 to $19.00. They now have an “equal weight” rating on the stock.
  • 9/2/2016 – VeriFone Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock. According to Zacks, “VeriFone delivered mixed results in the third quarter of fiscal 2016. The company’s earnings came in above expectation but the revenues lagged. This was primarily due to the weakness in certain markets like Turkey and Latin America. Furthermore, installations of the EMV enabled PoS in the U.S. has also not picked up desired pace till now. All this resulted in a muted outlook for the rest of this fiscal. Nonetheless, VeriFone expects these restructuring activities to start generating significant savings over the long run. Moreover, given the company’s dominant position in the market, it would benefit as the demand for EMV terminals picks up. The ongoing recovery in the company’s media business in also encouraging.”
  • 9/2/2016 – VeriFone Systems had its price target lowered by analysts at Stifel Nicolaus from $26.00 to $18.00. They now have a “neutral” rating on the stock.
  • 9/2/2016 – VeriFone Systems had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $15.00 price target on the stock, down previously from $19.00.
  • 9/1/2016 – VeriFone Systems was downgraded by analysts at TheStreet from a “hold” rating to a “sell” rating.
  • 9/1/2016 – VeriFone Systems was given a new $18.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 9/1/2016 – VeriFone Systems was downgraded by analysts at Vetr from a “strong-buy” rating to a “sell” rating. They now have a $19.34 price target on the stock.
  • 8/25/2016 – VeriFone Systems was upgraded by analysts at Piper Jaffray Cos. from a “neutral” rating to an “outperform” rating. They now have a $38.50 price target on the stock.
  • 8/22/2016 – VeriFone Systems was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $21.50 price target on the stock.
  • 8/17/2016 – VeriFone Systems had its “hold” rating reaffirmed by analysts at Pacific Crest.
  • 8/9/2016 – VeriFone Systems was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “VeriFone’s dominant position in the electronic payment systems and services market along with rising demand for EMV terminals are positives. VeriFone is also expected to benefit from is extensive restructuring efforts. VeriFone expects these restructuring activities to start generating savings from the fourth quarter onward, leading to savings of nearly $30 million in 2017. Further, accretive acquisitions will help the company to expand its international footprint. However, VeriFone is witnessing intensive pricing pressure in Asian and Latin American markets along with unfavorable revenue mix in North America. Moreover, a sluggish media business also remains an overhang. In the last reported quarter, unexpected delays in U.S. EMV enabled PoS installations had a negative impact on the financials. Estimates remain largely stable ahead of the company's third quarter fiscal 2016 earnings release.”

Shares of VeriFone Systems Inc. (NYSE:PAY) traded up 0.45% during midday trading on Wednesday, reaching $15.60. The company had a trading volume of 2,190,416 shares. The company’s 50 day moving average price is $18.28 and its 200-day moving average price is $22.85. VeriFone Systems Inc. has a 52 week low of $15.46 and a 52 week high of $31.24. The company has a market capitalization of $1.73 billion, a P/E ratio of 52.00 and a beta of 1.80.

VeriFone Systems (NYSE:PAY) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm earned $493 million during the quarter, compared to the consensus estimate of $515.44 million. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. On average, equities research analysts predict that VeriFone Systems Inc. will post $1.65 earnings per share for the current fiscal year.

VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.

5 Day Chart for NYSE:PAY

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