Verifone Systems (PAY) Stock Rating Reaffirmed by Barclays

Verifone Systems (NYSE:PAY)‘s stock had its “hold” rating reaffirmed by stock analysts at Barclays in a note issued to investors on Friday. They currently have a $21.00 price target on the business services provider’s stock. Barclays’ price objective points to a potential upside of 14.94% from the company’s current price.

A number of other equities analysts also recently weighed in on PAY. BidaskClub upgraded Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Northcoast Research downgraded Verifone Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies restated a “hold” rating and issued a $20.00 target price 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. Finally, Jefferies Group restated a “buy” rating and issued a $23.00 target price (up previously from $20.00) on shares of Verifone Systems in a research note on Monday, September 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.02.

Shares of Verifone Systems (PAY) opened at $18.27 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.33. The company has a market capitalization of $2,043.24, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.96. Verifone Systems has a twelve month low of $16.80 and a twelve month high of $21.48.

Verifone Systems (NYSE:PAY) last issued its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $472.33 million. Verifone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. sell-side analysts predict that Verifone Systems will post 1.2 earnings per share for the current fiscal year.

Verifone Systems declared that its board has approved a stock repurchase plan on Tuesday, December 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank lifted its stake in Verifone Systems by 0.5% in the second 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 during the last quarter. NGAM Advisors L.P. lifted its stake in Verifone Systems by 5.2% in the second quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 622 shares during the last quarter. Arizona State Retirement System lifted its stake in Verifone Systems by 1.5% in the second quarter. Arizona State Retirement System now owns 47,100 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 700 shares during the last quarter. First Mercantile Trust Co. lifted its stake in Verifone Systems by 7.3% in the second quarter. First Mercantile Trust Co. now owns 14,550 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 990 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Verifone Systems by 8.4% in the second quarter. Thrivent Financial For Lutherans now owns 22,700 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 1,750 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: “Verifone Systems (PAY) Stock Rating Reaffirmed by Barclays” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://stocknewstimes.com/2017/12/17/verifone-systems-pay-stock-rating-reaffirmed-by-barclays.html.

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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

Receive News & Ratings for Verifone Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verifone Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply