Northcoast Research Research Analysts Lower Earnings Estimates for Verifone Systems, Inc. (PAY)
Verifone Systems, Inc. (NYSE:PAY) – Stock analysts at Northcoast Research reduced their Q1 2018 earnings per share estimates for shares of Verifone Systems in a research report issued on Wednesday. Northcoast Research analyst K. Housum now forecasts that the business services provider will earn $0.25 per share for the quarter, down from their prior estimate of $0.28. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Verifone Systems’ Q2 2018 earnings at $0.31 EPS and FY2018 earnings at $1.29 EPS.
A number of other research firms also recently issued reports on PAY. BidaskClub downgraded shares of Verifone Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a “hold” rating and set a $20.00 price objective on shares of Verifone Systems in a report on Friday. Royal Bank Of Canada decreased their price objective on shares of Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, June 9th. Finally, Imperial Capital decreased 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 report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $18.48.
Verifone Systems (NYSE PAY) opened at 19.43 on Friday. The firm’s market cap is $2.17 billion. The company has a 50-day moving average of $19.29 and a 200-day moving average of $18.74. Verifone Systems has a 52 week low of $14.94 and a 52 week high of $20.98.
Verifone Systems (NYSE:PAY) last released its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. 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 for the quarter, compared to analyst estimates of $464.13 million. During the same period in the previous year, the business earned $0.42 EPS. Verifone Systems’s revenue for the quarter was down 5.2% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its position in shares of Verifone Systems by 80.9% in the second 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 during the period. FNY Managed Accounts LLC bought a new position in shares of Verifone Systems in the first quarter valued at approximately $131,000. Bank of Montreal Can boosted its position 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 valued at $138,000 after acquiring an additional 1,281 shares during the period. LS Investment Advisors LLC boosted its position in shares of Verifone Systems by 22.3% in the second 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 during the period. Finally, Shelton Capital Management bought a new position in shares of Verifone Systems in the first quarter valued at approximately $203,000.
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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