Brokerages Expect VeriFone Systems Inc (PAY) Will Post Quarterly Sales of $458.58 Million

Equities analysts expect VeriFone Systems Inc (NYSE:PAY) to announce $458.58 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for VeriFone Systems’ earnings, with the highest sales estimate coming in at $470.00 million and the lowest estimate coming in at $450.52 million. VeriFone Systems posted sales of $466.90 million during the same quarter last year, which suggests a negative year over year growth rate of 1.8%. The business is expected to announce its next quarterly earnings report on Thursday, September 6th.

On average, analysts expect that VeriFone Systems will report full year sales of $1.80 billion for the current financial year, with estimates ranging from $1.79 billion to $1.81 billion. For the next fiscal year, analysts expect that the business will post sales of $1.88 billion per share, with estimates ranging from $1.85 billion to $1.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for VeriFone Systems.

VeriFone Systems (NYSE:PAY) last issued its earnings results on Friday, June 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.05). VeriFone Systems had a negative net margin of 4.27% and a positive return on equity of 13.72%. The firm had revenue of $438.40 million during the quarter, compared to analyst estimates of $435.46 million.

A number of research analysts recently weighed in on the company. TheStreet upgraded VeriFone Systems from a “d+” rating to a “c-” rating in a report on Monday, April 16th. Jefferies Financial Group lowered VeriFone Systems from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Monday, April 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.34.

Large investors have recently added to or reduced their stakes in the business. BKS Advisors LLC purchased a new stake in shares of VeriFone Systems during the first quarter worth about $163,000. Signition LP purchased a new stake in shares of VeriFone Systems during the first quarter worth about $178,000. Cerebellum GP LLC purchased a new stake in shares of VeriFone Systems during the second quarter worth about $182,000. Stone Ridge Asset Management LLC purchased a new stake in shares of VeriFone Systems during the fourth quarter worth about $186,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of VeriFone Systems during the fourth quarter worth about $216,000. 95.09% of the stock is currently owned by institutional investors.

VeriFone Systems stock remained flat at $$23.01 during midday trading on Friday. The company had a trading volume of 2,237,610 shares, compared to its average volume of 1,318,477. VeriFone Systems has a 52-week low of $14.90 and a 52-week high of $23.14. The firm has a market capitalization of $2.55 billion, a PE ratio of 24.22, a P/E/G ratio of 1.27 and a beta of 1.45. The company has a quick ratio of 1.22, a current ratio of 1.46 and a debt-to-equity ratio of 1.09.

VeriFone Systems Company Profile

VeriFone Systems, Inc provides payments and commerce solutions at the point of sale (POS) worldwide. It offers countertop solutions that accept payment options, including contactless, NFC, mobile wallets, and EMV; PIN pads that support credit and debit card, EBT, EMV, and other PIN-based transactions; and multilane consumer facing commerce devices.

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