VeriFone Systems Inc (PAY) Given Consensus Recommendation of “Hold” by Analysts

VeriFone Systems Inc (NYSE:PAY) has earned a consensus recommendation of “Hold” from the twenty analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $19.77.

PAY has been the topic of a number of research analyst reports. Raymond James Financial downgraded shares of VeriFone Systems from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $25.00 to $22.00 in a research note on Thursday, November 16th. Citigroup initiated coverage on shares of VeriFone Systems in a research note on Friday, September 15th. They issued a “neutral” rating and a $23.00 price target on the stock. Tigress Financial restated a “buy” rating on shares of VeriFone Systems in a research note on Tuesday, December 19th. UBS Group downgraded shares of VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, November 16th. Finally, Argus reiterated a “hold” rating on shares of VeriFone Systems in a research report on Tuesday, December 26th.

VeriFone Systems (NYSE:PAY) opened at $18.54 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97. VeriFone Systems has a 1-year low of $16.80 and a 1-year high of $21.48. The company has a market cap of $2,080.00, a PE ratio of -11.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.96.

VeriFone Systems (NYSE:PAY) last released its earnings results 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. VeriFone Systems had a negative net margin of 9.29% and a positive return on equity of 13.52%. The firm had revenue of $477.00 million for the quarter, compared to analyst estimates of $472.33 million. During the same period last year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. equities research analysts predict that VeriFone Systems will post 1.2 earnings per share for the current year.

VeriFone Systems announced that its board has authorized a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Several large investors have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in VeriFone Systems during the 3rd quarter valued at $108,000. Riverhead Capital Management LLC boosted its holdings 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 worth $121,000 after acquiring an additional 2,993 shares during the last quarter. Carret Asset Management LLC boosted its holdings in VeriFone Systems by 22.1% during the 2nd quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after acquiring an additional 2,550 shares during the last quarter. Turner Investments LLC purchased a new position in VeriFone Systems during the 3rd quarter worth $284,000. Finally, Highbridge Capital Management LLC purchased a new position in VeriFone Systems during the 3rd quarter worth $300,000.

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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.

Analyst Recommendations for VeriFone Systems (NYSE:PAY)

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