VeriFone Systems (NYSE:PAY) last released its earnings results on Tuesday, June 7th. The company announced adjusted earnings per share of 47 cents per share on $526 million in sales while analysts were looking for $52 cents per share on $530 million in sales. The analysts expect earnings of $2.23 a share. The stock had a trading volume of 4,549,402 shares. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. The company has a market cap of $3.19 billion. The company also issued revenue projection of $515 million, compared to the consensus revenue estimate of $551.34 million. Zacks Investment Research upgraded VeriFone Systems from a sell rating to a hold rating in a report on Thursday, March 17th.
Advertisement
VeriFone Systems Inc (PAY) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 28 from a previous price target of $33. Verifone Systems Inc. has been the topic of 25 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Revenue for the period is expected to total almost $2.16B versus 2.00B in the preceding year.
Verifone Systems, Inc. has 110,201,000 shares which are now outstanding with a price of 28.23 calculating Verifone Systems, Inc.’s market capitalisation to 3.11B Dollars. The ratio worsened, as 41 funds sold all VeriFone Systems Inc shares owned while 86 reduced positions. American Century Companies Inc. now owns 1,791,512 shares of the company’s stock worth $50,198,000 after buying an additional 899,430 shares during the last quarter.
Advertisement
The company also lowered its outlook for fiscal 2016 as a result of which shares tanked almost 28% in the after-hours trading session yesterday. Wellington Management Group LLP raised its position in shares of VeriFone Systems by 34.8% in the first quarter. The management also gave its bottom line range of $3.04 per share, against projections of $3.04 per share. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The median Wall Street price target on the name is $36.00 with a high target of $40.00. The company was formerly known as VeriFone Holdings, Inc. and changed its name to VeriFone Systems, Inc.in May 2010. See the FREE profile for PAY NOW at Trade-IdeasMore details on PAY: VeriFone Systems, Inc. designs, manufactures, markets, and supplies electronic payment solutions at the point of sale (POS) worldwide. The 52 week high Verifone Systems, Inc.’s shares have peaked at is 37.06 whilst the 52 week low for the company’s shares is 20.14.
