Northcoast Research Weighs in on Verifone Systems, Inc.’s Q3 2018 Earnings (PAY)
Verifone Systems, Inc. (NYSE:PAY) – Equities researchers at Northcoast Research lifted their Q3 2018 EPS estimates for Verifone Systems in a research report issued on Wednesday. Northcoast Research analyst K. Housum now forecasts that the business services provider will post earnings of $0.38 per share for the quarter, up from their prior forecast of $0.34. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Verifone Systems’ Q4 2018 earnings at $0.42 EPS.
Several other brokerages have also recently weighed in on PAY. Barclays restated a “hold” rating and set a $21.00 target price on shares of Verifone Systems in a report on Friday. Credit Suisse Group increased their target price on Verifone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday. Raymond James Financial cut Verifone Systems from a “strong-buy” rating to an “outperform” rating in a report on Sunday, November 26th. UBS cut Verifone Systems from a “strong-buy” rating to an “outperform” rating in a report on Thursday, November 16th. Finally, Zacks Investment Research cut Verifone Systems from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.88.
Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million for the quarter, compared to analyst estimates of $472.33 million. Verifone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS.
Verifone Systems declared that its board has approved a share buyback plan on Tuesday, December 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its stake in shares of Verifone Systems by 0.5% in the 2nd quarter. Comerica Bank now owns 107,747 shares of the business services provider’s stock valued at $2,120,000 after purchasing an additional 535 shares during the period. NGAM Advisors L.P. lifted its stake in shares of Verifone Systems by 5.2% in the 2nd quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 622 shares during the period. Arizona State Retirement System lifted its stake in shares of Verifone Systems by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 47,100 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 700 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Verifone Systems by 7.3% in the 2nd quarter. First Mercantile Trust Co. now owns 14,550 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 990 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Verifone Systems by 8.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 22,700 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 1,750 shares during the period.
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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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