VeriFone Systems Inc. (PAY) Stock Rating Reaffirmed by Stifel Nicolaus
VeriFone Systems Inc. (NYSE:PAY)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research note issued on Friday. They currently have a $18.00 target price on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 12.22% from the company’s current price.
PAY has been the topic of several other research reports. Imperial Capital lowered VeriFone Systems from an “outperform” rating to an “in-line” rating and cut their target price for the company from $24.00 to $18.00 in a research note on Monday, September 12th. Pacific Crest restated a “hold” rating on shares of VeriFone Systems in a research note on Sunday, September 4th. Deutsche Bank AG dropped their price target on VeriFone Systems from $29.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, June 8th. Piper Jaffray Cos. restated a “buy” rating and set a $38.00 price target on shares of VeriFone Systems in a research note on Wednesday, June 1st. Finally, JPMorgan Chase & Co. lowered VeriFone Systems from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $34.00 to $24.00 in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.68.
VeriFone Systems (NYSE:PAY) opened at 16.04 on Friday. The stock has a 50 day moving average of $18.38 and a 200 day moving average of $22.92. The company has a market cap of $1.78 billion, a PE ratio of 53.47 and a beta of 1.80. VeriFone Systems has a 52 week low of $15.95 and a 52 week high of $31.24.
VeriFone Systems (NYSE:PAY) last posted its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The company had revenue of $493 million for the quarter, compared to analyst estimates of $515.44 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that VeriFone Systems will post $1.65 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. State Treasurer State of Michigan boosted its stake in shares of VeriFone Systems by 0.5% in the second quarter. State Treasurer State of Michigan now owns 44,200 shares of the company’s stock valued at $819,000 after buying an additional 200 shares during the last quarter. Leisure Capital Management boosted its stake in shares of VeriFone Systems by 1.9% in the second quarter. Leisure Capital Management now owns 13,120 shares of the company’s stock valued at $243,000 after buying an additional 248 shares during the last quarter. Globeflex Capital L P boosted its stake in shares of VeriFone Systems by 0.9% in the second quarter. Globeflex Capital L P now owns 32,942 shares of the company’s stock valued at $611,000 after buying an additional 293 shares during the last quarter. US Bancorp DE boosted its stake in shares of VeriFone Systems by 2.6% in the second quarter. US Bancorp DE now owns 11,832 shares of the company’s stock valued at $220,000 after buying an additional 297 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of VeriFone Systems by 0.7% in the second quarter. Prudential Financial Inc. now owns 67,324 shares of the company’s stock valued at $1,248,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.
About VeriFone Systems
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
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