Verifone Systems (PAY) to Repurchase $100.00 million in Stock
Verifone Systems (NYSE:PAY) declared that its board has authorized a stock repurchase plan, which permits the company to repurchase $100.00 million in shares on Tuesday, December 12th, EventVestor reports. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
PAY has been the subject of several research analyst reports. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Verifone Systems in a research note on Friday, September 8th. Zacks Investment Research downgraded Verifone Systems from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. Barclays reaffirmed a “hold” rating and issued a $22.00 price objective on shares of Verifone Systems in a research note on Friday, September 29th. BTIG Research reaffirmed a “hold” rating on shares of Verifone Systems in a research note on Monday, September 11th. Finally, UBS downgraded Verifone Systems from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Verifone Systems has a consensus rating of “Hold” and an average price target of $20.02.
Verifone Systems (NYSE:PAY) opened at $18.27 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2,050.00, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.96. Verifone Systems has a 1 year low of $16.80 and a 1 year high of $21.48.
Verifone Systems (NYSE:PAY) last released its quarterly earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $477.00 million during the quarter, compared to the consensus estimate of $472.33 million. Verifone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. Verifone Systems’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. sell-side analysts forecast that Verifone Systems will post 1.2 EPS for the current fiscal year.
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Verifone Systems Company Profile
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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