Verifone Systems, Inc. (PAY) Cut to “Neutral” at Northcoast Research
Northcoast Research downgraded shares of Verifone Systems, Inc. (NYSE:PAY) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Northcoast Research also issued estimates for Verifone Systems’ Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.29 EPS.
PAY has been the topic of several other reports. Barclays PLC reissued an equal weight rating and set a $20.00 price target (down from $22.00) on shares of Verifone Systems in a research note on Sunday, June 11th. Zacks Investment Research downgraded shares of Verifone Systems from a hold rating to a sell rating in a research note on Tuesday, May 23rd. BidaskClub downgraded shares of Verifone Systems from a hold rating to a sell rating in a research note on Wednesday, August 16th. BTIG Research reissued a neutral rating on shares of Verifone Systems in a research note on Monday, June 12th. Finally, Royal Bank Of Canada decreased their price target on shares of Verifone Systems from $23.00 to $20.00 and set a sector perform rating on the stock in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $18.48.
Verifone Systems (PAY) opened at 19.56 on Wednesday. Verifone Systems has a 12 month low of $14.94 and a 12 month high of $20.98. The firm’s market capitalization is $2.19 billion. The firm has a 50-day moving average of $19.28 and a 200 day moving average of $18.74.
Verifone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $466.90 million for the quarter, compared to the consensus estimate of $464.13 million. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.04%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Equities research analysts forecast that Verifone Systems will post $1.33 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in the company. Phocas Financial Corp. bought a new stake in shares of Verifone Systems during the 2nd quarter valued at $587,000. Ameritas Investment Partners Inc. boosted its stake in Verifone Systems by 29.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 43,404 shares of the business services provider’s stock worth $786,000 after purchasing an additional 9,780 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Verifone Systems by 52.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 245,936 shares of the business services provider’s stock worth $4,452,000 after purchasing an additional 84,929 shares in the last quarter. Carret Asset Management LLC boosted its stake in Verifone Systems by 22.1% in the 2nd quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after purchasing an additional 2,550 shares in the last quarter. Finally, State Street Corp boosted its stake in Verifone Systems by 27.8% in the 2nd quarter. State Street Corp now owns 3,612,321 shares of the business services provider’s stock worth $65,386,000 after purchasing an additional 786,774 shares in the last quarter.
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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