Deutsche Bank Reiterates a 'Sell' on VeriFone (PAY) Organic Growth Confusion and Low Confidence in Model
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Price: $22.44 -1.62%
Rating Summary:
6 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade PAY Now!
Deutsche Bank reiterates a 'Sell' on VeriFone (NYSE: PAY) price target of $45.00.
Analyst, Bryan Keane, said, "...PAY’s 3Q12 guidance of $495-500m and $0.68-0.70 in EPS came in slightly below our estimates, and PAY reiterated guidance for FY12 (Street expected a raise in our view). PAY pointed to f/x as the cause for the weak guidance, which was surprising considering PAY's prior position that f/x has no material impact as the company adjusts its pricing and prices most contracts in US dollars. Given the abysmal FCF and the lack of financial transparency, we reiterate our Sell rating."
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 $45.00 yesterday, with a 52 week range of $30.25-$55.89.
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Analyst, Bryan Keane, said, "...PAY’s 3Q12 guidance of $495-500m and $0.68-0.70 in EPS came in slightly below our estimates, and PAY reiterated guidance for FY12 (Street expected a raise in our view). PAY pointed to f/x as the cause for the weak guidance, which was surprising considering PAY's prior position that f/x has no material impact as the company adjusts its pricing and prices most contracts in US dollars. Given the abysmal FCF and the lack of financial transparency, we reiterate our Sell rating."
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 $45.00 yesterday, with a 52 week range of $30.25-$55.89.
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