Verifone Systems, Inc. (PAY) Receives Consensus Recommendation of “Hold” from Brokerages
Verifone Systems, Inc. (NYSE:PAY) has been assigned an average recommendation of “Hold” from the twenty research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $18.63.
Several brokerages have commented on PAY. Barclays PLC reaffirmed an “equal weight” rating and issued a $20.00 price target (down from $22.00) on shares of Verifone Systems in a research report on Sunday, June 11th. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, March 8th. Royal Bank Of Canada lifted their price target on Verifone Systems from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Friday, March 10th. Deutsche Bank AG restated a “hold” rating and set a $15.00 price objective on shares of Verifone Systems in a research report on Monday, March 13th. Finally, Morgan Stanley restated an “equal weight” rating and set a $18.00 price objective (up from $16.00) on shares of Verifone Systems in a research report on Saturday, March 11th.
Shares of Verifone Systems (NYSE PAY) opened at 17.58 on Monday. The firm’s market cap is $1.97 billion. The stock’s 50 day moving average is $18.08 and its 200-day moving average is $18.46. Verifone Systems has a 52-week low of $14.94 and a 52-week high of $20.98.
Verifone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, June 8th. The business services provider reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $474 million for the quarter, compared to the consensus estimate of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. Equities analysts anticipate that Verifone Systems will post $1.33 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new stake in shares of Verifone Systems during the first quarter worth $131,000. Bank of Montreal Can boosted its stake in shares of Verifone Systems by 21.0% in the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock worth $138,000 after buying an additional 1,281 shares during the period. Shelton Capital Management bought a new stake in shares of Verifone Systems during the first quarter worth $203,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Verifone Systems during the first quarter worth $236,000. Finally, Private Advisor Group LLC bought a new stake in shares of Verifone Systems during the fourth quarter worth $234,000.
Verifone Systems Company Profile
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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