Argus Downgrades VeriFone (PAY) to Hold

September 6, 2016 7:49 AM EDT
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Price: $18.57 +2.60%

Rating Summary:
    11 Buy, 17 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Argus downgraded VeriFone (NYSE: PAY) from Buy to Hold on a weaker outlook.

The firm now expects revenue to be flat in FY16, down from their prior forecast of 5% growth. They are lowering their FY16 EPS forecast to $1.66 from $1.85 and their FY17 estimate to $1.79 from $2.17.

For an analyst ratings summary and ratings history on VeriFone click here. For more ratings news on VeriFone click here.

Shares of VeriFone closed at $16.81 yesterday.

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