Northcoast Research Research Analysts Cut Earnings Estimates for Verifone Systems, Inc. (PAY)
Verifone Systems, Inc. (NYSE:PAY) – Research analysts at Northcoast Research dropped their Q1 2018 EPS estimates for Verifone Systems in a research note issued to investors on Wednesday. Northcoast Research analyst K. Housum now anticipates that the business services provider will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.27. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Verifone Systems’ Q2 2018 earnings at $0.25 EPS and FY2018 earnings at $1.21 EPS.
PAY has been the subject of a number of other research reports. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $20.00 target price on shares of Verifone Systems in a research report on Friday, September 8th. Zacks Investment Research downgraded shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Barclays reaffirmed a “hold” rating and issued a $22.00 target price on shares of Verifone Systems in a research report on Friday, September 29th. BTIG Research reaffirmed a “hold” rating on shares of Verifone Systems in a research report on Monday, September 11th. Finally, UBS downgraded shares of Verifone Systems from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. Verifone Systems currently has an average rating of “Hold” and a consensus target price of $20.02.
Verifone Systems (NYSE:PAY) last posted its earnings results on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $477.00 million during the quarter, compared to the consensus estimate of $472.33 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s revenue was up 2.8% on a year-over-year basis.
Verifone Systems declared that its board has authorized a share repurchase plan on Tuesday, December 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Verifone Systems by 27,645.1% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 241,105 shares of the business services provider’s stock valued at $4,890,000 after buying an additional 240,236 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Verifone Systems during the 3rd quarter valued at $531,000. Neuberger Berman Group LLC lifted its stake in shares of Verifone Systems by 22.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,646,427 shares of the business services provider’s stock valued at $33,390,000 after buying an additional 297,362 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Verifone Systems by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,147,906 shares of the business services provider’s stock valued at $23,280,000 after buying an additional 18,306 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Verifone Systems during the 3rd quarter valued at $591,000.
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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.
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