VeriFone Systems Inc. (PAY) Stock Rating Reaffirmed by Stifel Nicolaus
VeriFone Systems Inc. (NYSE:PAY)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a research report issued on Friday. They currently have a $18.00 price target on the stock. Stifel Nicolaus’ price target suggests a potential upside of 12.22% from the company’s current price.
PAY has been the subject of a number of other research reports. Imperial Capital downgraded VeriFone Systems from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $24.00 to $18.00 in a research report on Monday, September 12th. Pacific Crest reissued a “hold” rating on shares of VeriFone Systems in a research report on Sunday, September 4th. Deutsche Bank AG lowered their price target on VeriFone Systems from $29.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, June 8th. Piper Jaffray Cos. reissued a “buy” rating and set a $38.00 price target on shares of VeriFone Systems in a research report on Wednesday, June 1st. Finally, JPMorgan Chase & Co. downgraded VeriFone Systems from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $24.00 in a research report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.68.
Shares of VeriFone Systems (NYSE:PAY) opened at 16.04 on Friday. VeriFone Systems has a 12 month low of $15.95 and a 12 month high of $31.24. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 53.47 and a beta of 1.80. The stock’s 50 day moving average price is $18.38 and its 200 day moving average price is $22.92.
VeriFone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The business earned $493 million during the quarter, compared to the consensus estimate of $515.44 million. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. Equities research analysts predict that VeriFone Systems will post $1.65 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Cove Street Capital LLC bought a new position in VeriFone Systems during the second quarter valued at approximately $32,142,000. Emerald Acquisition Ltd. bought a new position in VeriFone Systems during the second quarter valued at approximately $24,263,000. Alliancebernstein L.P. raised its position in VeriFone Systems by 57.6% in the second quarter. Alliancebernstein L.P. now owns 3,180,435 shares of the company’s stock valued at $58,965,000 after buying an additional 1,162,250 shares during the period. Jackson Square Partners LLC raised its position in VeriFone Systems by 10.4% in the first quarter. Jackson Square Partners LLC now owns 10,999,485 shares of the company’s stock valued at $403,224,000 after buying an additional 1,037,198 shares during the period. Finally, River Road Asset Management LLC bought a new position in VeriFone Systems during the second quarter valued at approximately $18,280,000. 95.52% of the stock is owned by institutional investors.
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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