Wall Street brokerages expect that VeriFone Systems Inc (NYSE:PAY) will post $419.60 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for VeriFone Systems’ earnings. The highest sales estimate is $422.00 million and the lowest is $418.70 million. VeriFone Systems posted sales of $456.60 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.1%. The firm is expected to issue its next earnings results after the market closes on Thursday, March 8th.
According to Zacks, analysts expect that VeriFone Systems will report full year sales of $419.60 million for the current year, with estimates ranging from $1.79 billion to $1.80 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.87 billion per share, with estimates ranging from $1.85 billion to $1.89 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow VeriFone Systems.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS.
Shares of VeriFone Systems (NYSE PAY) opened at $17.27 on Wednesday. The firm has a market capitalization of $1,912.39, a price-to-earnings ratio of 18.24, a PEG ratio of 1.77 and a beta of 1.79. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97. VeriFone Systems has a 1 year low of $16.00 and a 1 year high of $21.48.
VeriFone Systems announced that its board has approved a stock repurchase program on Tuesday, December 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Bank of New York Mellon Corp grew its stake in VeriFone Systems by 33.3% during the fourth quarter. Bank of New York Mellon Corp now owns 7,050,450 shares of the business services provider’s stock worth $124,863,000 after purchasing an additional 1,762,712 shares during the period. State Street Corp boosted its holdings in VeriFone Systems by 27.8% in the second quarter. State Street Corp now owns 3,612,321 shares of the business services provider’s stock worth $65,386,000 after acquiring an additional 786,774 shares in the last quarter. Northern Trust Corp boosted its holdings in VeriFone Systems by 81.9% in the second quarter. Northern Trust Corp now owns 1,710,176 shares of the business services provider’s stock worth $30,954,000 after acquiring an additional 769,788 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in VeriFone Systems in the third quarter worth approximately $14,470,000. Finally, Royce & Associates LP bought a new position in VeriFone Systems in the fourth quarter worth approximately $11,154,000.
COPYRIGHT VIOLATION NOTICE: “Zacks: Analysts Anticipate VeriFone Systems Inc (PAY) Will Announce Quarterly Sales of $419.60 Million” was posted by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2018/02/14/zacks-analysts-anticipate-verifone-systems-inc-pay-will-announce-quarterly-sales-of-419-60-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for VeriFone Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriFone Systems and related companies with MarketBeat.com's FREE daily email newsletter.