Analysts predict that VeriFone Systems Inc (NYSE:PAY) will post sales of $419.60 million for the current quarter, according to Zacks. Eight analysts have issued estimates for VeriFone Systems’ earnings, with estimates ranging from $418.70 million to $422.00 million. VeriFone Systems reported 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 company is expected to announce 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 anticipate that the company will report sales of $1.87 billion per share, with estimates ranging from $1.85 billion to $1.89 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow VeriFone Systems.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The firm had revenue of $477.00 million during the quarter, compared to the consensus estimate of $472.33 million. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis.
Several brokerages recently weighed in on PAY. Credit Suisse Group increased their price target on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 13th. Zacks Investment Research downgraded VeriFone Systems from a “hold” rating to a “strong sell” rating in a report on Monday, December 18th. Barclays reaffirmed a “hold” rating and set a $21.00 price target on shares of VeriFone Systems in a report on Friday, December 15th. Tigress Financial reaffirmed a “buy” rating on shares of VeriFone Systems in a report on Tuesday, December 19th. Finally, Argus reaffirmed a “hold” rating on shares of VeriFone Systems in a report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.15.
A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC acquired a new stake in VeriFone Systems in the fourth quarter valued at $2,183,000. Belpointe Asset Management LLC acquired a new stake in VeriFone Systems in the fourth quarter valued at $237,000. Crestline Management LP acquired a new stake in VeriFone Systems in the fourth quarter valued at $252,000. Millennium Management LLC lifted its holdings in VeriFone Systems by 85.1% in the fourth quarter. Millennium Management LLC now owns 3,034,660 shares of the business services provider’s stock valued at $53,744,000 after acquiring an additional 1,395,432 shares during the period. Finally, Meadow Creek Investment Management LLC lifted its holdings in VeriFone Systems by 26.4% in the fourth quarter. Meadow Creek Investment Management LLC now owns 18,088 shares of the business services provider’s stock valued at $320,000 after acquiring an additional 3,774 shares during the period.
Shares of VeriFone Systems (NYSE:PAY) traded down $0.05 during midday trading on Wednesday, hitting $17.37. The company had a trading volume of 804,512 shares, compared to its average volume of 1,140,000. 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 52-week low of $16.00 and a 52-week high of $21.48. The firm has a market capitalization of $1,950.00, a P/E ratio of -11.21, a PEG ratio of 1.77 and a beta of 1.79.
VeriFone Systems announced that its board has approved a share repurchase 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 buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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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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