Analysts Anticipate Verifone Systems, Inc. (PAY) Will Post Quarterly Sales of $471.98 Million
Equities analysts forecast that Verifone Systems, Inc. (NYSE:PAY) will announce $471.98 million in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for Verifone Systems’ earnings, with the lowest sales estimate coming in at $468.82 million and the highest estimate coming in at $474.20 million. Verifone Systems posted sales of $467.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The company is scheduled to report its next quarterly earnings results on Monday, December 11th.
According to Zacks, analysts expect that Verifone Systems will report full-year sales of $471.98 million for the current financial year, with estimates ranging from $1.86 billion to $1.87 billion. For the next fiscal year, analysts expect that the company will report sales of $1.91 billion per share, with estimates ranging from $1.81 billion to $1.96 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Verifone Systems.
Verifone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $466.90 million for the quarter, compared to the consensus estimate of $464.13 million. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS.
PAY has been the topic of several recent analyst reports. Citigroup Inc. initiated coverage on shares of Verifone Systems in a report on Friday, September 15th. They issued a “neutral” rating and a $23.00 target price on the stock. Zacks Investment Research cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Northcoast Research cut shares of Verifone Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. BMO Capital Markets cut their target price on shares of Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, June 16th. Finally, BTIG Research restated a “hold” rating on shares of Verifone Systems in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.08.
Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Verifone Systems by 76.7% during the first quarter. Legal & General Group Plc now owns 98,467 shares of the business services provider’s stock valued at $1,845,000 after buying an additional 42,756 shares during the period. Rhumbline Advisers lifted its position in Verifone Systems by 5.0% during the second quarter. Rhumbline Advisers now owns 228,791 shares of the business services provider’s stock valued at $4,141,000 after buying an additional 10,875 shares during the period. Bank of New York Mellon Corp lifted its position in Verifone Systems by 300.1% during the second quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock valued at $90,982,000 after buying an additional 3,770,155 shares during the period. Schafer Cullen Capital Management Inc. lifted its position in Verifone Systems by 14.5% during the first quarter. Schafer Cullen Capital Management Inc. now owns 16,950 shares of the business services provider’s stock valued at $317,000 after buying an additional 2,150 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in Verifone Systems by 0.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock valued at $2,029,000 after buying an additional 281 shares during the period.
Verifone Systems (PAY) opened at 20.62 on Friday. The firm’s market cap is $2.31 billion. Verifone Systems has a 12 month low of $14.94 and a 12 month high of $21.48. The stock has a 50 day moving average of $19.52 and a 200-day moving average of $18.74.
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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