Wall Street brokerages predict that VeriFone Systems Inc (NYSE:PAY) will report $419.60 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for VeriFone Systems’ earnings, with estimates ranging from $418.70 million to $422.00 million. VeriFone Systems reported sales of $456.60 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.1%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, March 8th.
According to Zacks, analysts expect that VeriFone Systems will report full year sales of $419.60 million for the current fiscal year, with estimates ranging from $1.79 billion to $1.80 billion. For the next year, analysts expect that the company will post sales of $1.87 billion per share, with estimates ranging from $1.85 billion to $1.89 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow VeriFone Systems.
VeriFone Systems (NYSE:PAY) last released its quarterly earnings results on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million for 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%. VeriFone Systems’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.
VeriFone Systems (NYSE PAY) traded down $0.05 during trading on Wednesday, reaching $17.37. The company had a trading volume of 804,512 shares, compared to its average volume of 1,140,000. The firm has a market cap of $1,950.00, a price-to-earnings ratio of -11.21, a PEG ratio of 1.77 and a beta of 1.79. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97. VeriFone Systems has a 12-month low of $16.00 and a 12-month high of $21.48.
VeriFone Systems announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation bought a new stake in shares of VeriFone Systems in the 3rd quarter valued at approximately $108,000. Amundi Pioneer Asset Management Inc. bought a new position in VeriFone Systems during the 4th quarter worth $123,000. Stone Ridge Asset Management LLC bought a new position in VeriFone Systems during the 4th quarter worth $186,000. FDx Advisors Inc. bought a new position in VeriFone Systems during the 4th quarter worth $199,000. Finally, BlueCrest Capital Management Ltd bought a new position in VeriFone Systems during the 4th quarter worth $217,000.
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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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