Verifone Systems, Inc. (PAY) Releases Earnings Results, Hits Expectations
Verifone Systems, Inc. (NYSE:PAY) posted its quarterly earnings results on Thursday. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36, Bloomberg Earnings reports. Verifone Systems had a negative net margin of 7.53% and a positive return on equity of 11.55%. The company had revenue of $466.90 million during the quarter, compared to the consensus estimate of $464.13 million. During the same period last year, the firm earned $0.42 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Verifone Systems updated its Q4 guidance to $0.43 EPS.
Verifone Systems (NYSE PAY) traded up 0.57% during trading on Thursday, hitting $19.43. 3,550,925 shares of the company traded hands. The firm has a 50 day moving average of $19.29 and a 200 day moving average of $18.73. The firm’s market cap is $2.17 billion. Verifone Systems has a one year low of $14.94 and a one year high of $20.98.
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A number of brokerages have recently weighed in on PAY. BidaskClub cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Northcoast Research cut shares of Verifone Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday. Imperial Capital dropped their price objective on shares of Verifone Systems from $20.00 to $19.00 and set an “in-line” rating for the company in a research note on Tuesday, June 13th. Finally, BTIG Research reissued a “neutral” rating on shares of Verifone Systems in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. Verifone Systems presently has an average rating of “Hold” and a consensus price target of $18.35.
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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