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VeriFone Systems, Inc. Message Board

  • paid_my_fair_share paid_my_fair_share Feb 23, 2013 11:08 AM Flag

    Verifone’s “Neutral” Rating Reaffirmed at Zacks

    Verifone’s “Neutral” Rating Reaffirmed at Zacks

    Posted by Kristian Gore on Feb 22nd, 2013




    Verifone logoZacks reaffirmed their neutral rating on shares of Verifone in a report issued on Friday. They currently have a $19.00 target price on the stock.

    Zacks’ analyst wrote, “VeriFone Holdings continues to impress riding on strategic acquisitions and a growing high margin services mix in total revenue. This high margin services business is being propelled by new offerings, such as London taxi, Secure PumpPay and mobile payments growth. The recent acquisitions of Hypercom and Point strengthen the company’s foothold in Europe along with driving significant synergies. However, organic growth remains a matter of concern. The company recently downgraded its guidance for the first quarter citing continued weak macro-economic conditions in Europe among others. We do not foresee any improvement in business conditions before the second half of fiscal 2013. Hence, we maintain our neutral recommendation.”

    Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital cut their price target on shares of Verifone from $47.00 to $28.00 in a research note to investors on Friday. They now have an overweight rating on the stock. Separately, analysts at Argus downgraded shares of Verifone from a buy rating to a hold rating in a research note to investors on Friday. Finally, analysts at Wedbush cut their price target on shares of Verifone from $33.00 to $22.00 in a research note to investors on Thursday. They now have a neutral rating on the stock.

    Six investment analysts have rated the stock with a buy rating, one has given an overweight rating, ten have issued a hold rating, and one has issued a sell rating to the company. The stock currently has an average rating of overweight and a consensus target price of $27.36.

    Shares of Verifone traded up 3.73% during mid-day trading on Friday, hitting $18.92. Verifone has a 52 week low of $17.93 and a 52 week high of $55.89. The stock’s 50-day moving average is currently $32.84. The company has a market cap of $2.043 billion and a P/E ratio of 30.92.

    Verifone last posted its quarterly earnings results on Thursday, December 13th. The company reported $0.76 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.76. The company had revenue of $485.00 million for the quarter, compared to the consensus estimate of $494.84 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Verifone has set its Q1 guidance at $0.70-0.73 EPS and its FY13 guidance at $3.25-3.30 EPS. Analysts expect that Verifone will post $2.30 EPS for the current fiscal year.

    Sentiment: Hold

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    • Six investment analysts have rated the stock with a buy rating, one has given an overweight rating, ten have issued a hold rating, and one has issued a sell rating to the company. The stock currently has an average rating of overweight and a consensus target price of $27.36.

 
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