Morgan Stanley Trims VeriFone Systems Inc. (PAY) Target Price to $16.00
VeriFone Systems Inc. (NYSE:PAY) had its price target trimmed by Morgan Stanley from $23.00 to $16.00 in a research note issued to investors on Tuesday. The brokerage currently has an equal weight rating on the stock.
Other analysts also recently issued research reports about the company. Jefferies Group reissued a buy rating and issued a $40.00 price target on shares of VeriFone Systems in a report on Wednesday, June 8th. Stifel Nicolaus cut their price target on VeriFone Systems from $40.00 to $26.00 and set a buy rating on the stock in a report on Wednesday, June 8th. Pacific Crest reissued a buy rating and issued a $36.00 price target on shares of VeriFone Systems in a report on Monday, June 6th. Piper Jaffray Cos. reissued a buy rating and issued a $38.00 price target on shares of VeriFone Systems in a report on Wednesday, June 1st. Finally, SunTrust Banks Inc. cut their price target on VeriFone Systems from $37.00 to $24.00 and set a buy rating on the stock in a report on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $25.27.
Shares of VeriFone Systems (NYSE:PAY) opened at 15.97 on Tuesday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 53.23 and a beta of 1.80. The firm has a 50-day moving average price of $18.09 and a 200 day moving average price of $22.75. VeriFone Systems has a 12-month low of $15.46 and a 12-month high of $31.24.
VeriFone Systems (NYSE:PAY) last released its earnings results on Thursday, September 1st. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $515.44 million. During the same quarter last year, the business posted $0.47 EPS. VeriFone Systems’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that VeriFone Systems will post $1.65 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Water Island Capital LLC bought a new stake in VeriFone Systems during the second quarter valued at $121,000. Acrospire Investment Management LLC raised its stake in VeriFone Systems by 112.9% in the second quarter. Acrospire Investment Management LLC now owns 6,600 shares of the company’s stock valued at $122,000 after buying an additional 3,500 shares in the last quarter. LS Investment Advisors LLC raised its stake in VeriFone Systems by 71.0% in the second quarter. LS Investment Advisors LLC now owns 6,631 shares of the company’s stock valued at $123,000 after buying an additional 2,753 shares in the last quarter. Creative Planning bought a new stake in VeriFone Systems during the second quarter valued at $132,000. Finally, BlackRock Japan Co. Ltd bought a new stake in VeriFone Systems during the second quarter valued at $135,000. Institutional investors own 95.16% of the company’s stock.
VeriFone Systems Company Profile
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.
Receive News & Ratings for VeriFone Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriFone Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.