Research Analysts Set Expectations for Verifone Systems, Inc.’s Q3 2018 Earnings (PAY)
Verifone Systems, Inc. (NYSE:PAY) – Equities research analysts at Northcoast Research decreased their Q3 2018 earnings per share estimates for Verifone Systems in a research report issued to clients and investors on Wednesday. Northcoast Research analyst K. Housum now expects that the business services provider will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.37. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Verifone Systems’ Q4 2018 earnings at $0.40 EPS.
PAY has been the topic of a number of other reports. BMO Capital Markets decreased their target price on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, June 16th. Zacks Investment Research downgraded Verifone Systems from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. BidaskClub downgraded Verifone Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada decreased their price objective on Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, June 9th. Finally, Barclays PLC restated an “equal weight” rating and set a $20.00 price objective (down from $22.00) on shares of Verifone Systems in a research report on Sunday, June 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.35.
Shares of Verifone Systems (NYSE PAY) traded up 0.326% during trading on Thursday, hitting $19.383. The company had a trading volume of 1,222,092 shares. The firm’s 50 day moving average is $19.30 and its 200-day moving average is $18.73. Verifone Systems has a 52 week low of $14.94 and a 52 week high of $20.98. The stock’s market capitalization is $2.17 billion.
Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $474 million for the quarter, compared to analysts’ expectations of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. Verifone Systems’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC boosted its position in Verifone Systems by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 2,993 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in Verifone Systems during the 1st quarter valued at $131,000. Bank of Montreal Can boosted its position in Verifone Systems by 21.0% during the 1st quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock valued at $138,000 after acquiring an additional 1,281 shares in the last quarter. LS Investment Advisors LLC boosted its position in Verifone Systems by 22.3% during the 2nd quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock valued at $167,000 after acquiring an additional 1,679 shares in the last quarter. Finally, Shelton Capital Management bought a new stake in Verifone Systems during the 1st quarter valued at $203,000.
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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