VeriFone Systems Inc (NYSE:PAY) – Research analysts at Imperial Capital lowered their Q1 2018 earnings per share (EPS) estimates for shares of VeriFone Systems in a note issued to investors on Monday. Imperial Capital analyst S. Khan now expects that the business services provider will earn $0.15 per share for the quarter, down from their previous forecast of $0.27. Imperial Capital also issued estimates for VeriFone Systems’ Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.43 EPS and FY2018 earnings at $1.19 EPS.
Other analysts have also recently issued research reports about the company. Jefferies Group restated a “buy” rating and issued a $23.00 price target (up previously from $20.00) on shares of VeriFone Systems in a report on Monday, September 11th. Zacks Investment Research upgraded VeriFone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Bank of America initiated coverage on VeriFone Systems in a report on Tuesday, September 12th. They set an “underperform” rating and a $19.00 target price for the company. Credit Suisse Group boosted their target price on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 13th. Finally, Raymond James Financial cut VeriFone Systems from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $25.00 to $22.00 in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.02.
VeriFone Systems (NYSE:PAY) last posted its quarterly earnings results on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $472.33 million. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS.
VeriFone Systems announced that its board has initiated a stock buyback 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 purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank raised its position in shares of VeriFone Systems by 0.5% in the 2nd quarter. Comerica Bank now owns 107,747 shares of the business services provider’s stock valued at $2,120,000 after purchasing an additional 535 shares in the last quarter. Arizona State Retirement System raised its position in shares of VeriFone Systems by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 47,100 shares of the business services provider’s stock valued at $853,000 after acquiring an additional 700 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of VeriFone Systems by 8.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 22,700 shares of the business services provider’s stock valued at $411,000 after acquiring an additional 1,750 shares in the last quarter. Covington Investment Advisors Inc. raised its position in shares of VeriFone Systems by 2.1% during the 2nd quarter. Covington Investment Advisors Inc. now owns 116,155 shares of the business services provider’s stock valued at $2,102,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of VeriFone Systems by 15.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 19,042 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 2,508 shares in the last quarter.
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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