Zacks: Brokerages Anticipate VeriFone Systems Inc (PAY) Will Post Earnings of $0.23 Per Share

Wall Street analysts expect VeriFone Systems Inc (NYSE:PAY) to announce $0.23 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for VeriFone Systems’ earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.26. VeriFone Systems reported earnings per share of $0.21 during the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The company is scheduled to report its next earnings report after the market closes on Thursday, March 8th.

According to Zacks, analysts expect that VeriFone Systems will report full year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.47 to $1.50. For the next financial year, analysts expect that the firm will report earnings of $1.73 per share, with EPS estimates ranging from $1.63 to $1.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for VeriFone Systems.

VeriFone Systems (NYSE:PAY) last announced its earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $472.33 million. VeriFone Systems had a negative net margin of 9.29% and a positive return on equity of 13.52%. VeriFone Systems’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS.

A number of equities analysts recently issued reports on the stock. Credit Suisse Group increased their target price on shares of VeriFone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 13th. Raymond James Financial lowered shares of VeriFone Systems from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $25.00 to $22.00 in a research report on Thursday, November 16th. Barclays reiterated a “hold” rating and issued a $21.00 target price on shares of VeriFone Systems in a research report on Friday, December 15th. Tigress Financial reiterated a “buy” rating on shares of VeriFone Systems in a research report on Tuesday, December 19th. Finally, Zacks Investment Research lowered shares of VeriFone Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, December 18th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. VeriFone Systems presently has an average rating of “Hold” and an average target price of $20.15.

A number of hedge funds and other institutional investors have recently modified their holdings of PAY. Zions Bancorporation acquired a new stake in VeriFone Systems in the 3rd quarter valued at about $108,000. FDx Advisors Inc. purchased a new stake in VeriFone Systems during the fourth quarter valued at about $199,000. Turner Investments LLC purchased a new stake in VeriFone Systems during the third quarter valued at about $284,000. Highbridge Capital Management LLC purchased a new stake in VeriFone Systems during the third quarter valued at about $300,000. Finally, ING Groep NV lifted its stake in VeriFone Systems by 23.6% during the fourth quarter. ING Groep NV now owns 16,930 shares of the business services provider’s stock valued at $300,000 after buying an additional 3,233 shares in the last quarter.

VeriFone Systems (NYSE:PAY) opened at $17.08 on Monday. The stock has a market cap of $1,884.80, a PE ratio of -11.02, a P/E/G ratio of 1.74 and a beta of 1.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.33 and a quick ratio of 1.09. VeriFone Systems has a 12-month low of $16.00 and a 12-month high of $21.48.

VeriFone Systems announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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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.

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