Brokerages Expect Verifone Systems, Inc. (PAY) Will Post Quarterly Sales of $464.03 Million
Brokerages forecast that Verifone Systems, Inc. (NYSE:PAY) will announce $464.03 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Verifone Systems’ earnings. The lowest sales estimate is $462.50 million and the highest is $467.09 million. Verifone Systems posted sales of $492.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, September 7th.
According to Zacks, analysts expect that Verifone Systems will report full-year sales of $464.03 million for the current financial year, with estimates ranging from $1.86 billion to $1.87 billion. For the next fiscal year, analysts expect that the company will post sales of $1.93 billion per share, with estimates ranging from $1.91 billion to $1.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Verifone Systems.
Verifone Systems (NYSE:PAY) last released its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $474 million for the quarter, compared to analyst estimates of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share.
A number of equities analysts have recently weighed in on the company. BTIG Research downgraded Verifone Systems from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Friday, March 10th. Royal Bank Of Canada boosted their target price on Verifone Systems from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Friday, March 10th. Zacks Investment Research upgraded Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 8th. Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price (up previously from $16.00) on shares of Verifone Systems in a research note on Saturday, March 11th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $15.00 target price on shares of Verifone Systems in a research note on Monday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.73.
Large investors have recently modified their holdings of the stock. FNY Managed Accounts LLC acquired a new stake in shares of Verifone Systems during the first quarter worth about $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 last quarter. Shelton Capital Management acquired a new stake in shares of Verifone Systems during the first quarter worth about $203,000. Numeric Investors LLC acquired a new stake in shares of Verifone Systems during the fourth quarter worth about $229,000. Finally, Private Advisor Group LLC boosted its stake in shares of Verifone Systems by 1.9% in the first quarter. Private Advisor Group LLC now owns 12,960 shares of the business services provider’s stock worth $233,000 after buying an additional 245 shares during the last quarter.
Verifone Systems (PAY) traded down 2.46% during mid-day trading on Wednesday, reaching $17.48. The company’s stock had a trading volume of 350,446 shares. The company’s market cap is $1.95 billion. The firm has a 50 day moving average price of $17.91 and a 200 day moving average price of $18.49. Verifone Systems has a 52-week low of $14.94 and a 52-week high of $20.98.
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About Verifone Systems
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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