Compass Point Reiterates a 'Neutral' on VeriFone (PAY); Adjusts Numbers on Q3 Results
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Price: $40.00 +4.11%
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Compass Point reiterates a 'Neutral' on VeriFone (NYSE: PAY) price target of $33.00 (from $38.00).
Analyst, Douglas Greiner, said, "Following fiscal 3Q earnings we reiterate our rating. Our revised estimates are $2.74 this year ($2.66 previously) and $3.20 next year ($3.25 previously)...The company introduced guidance for next year of $2,050-$2,100 million in revenue and $3.25-$3.30 in EPS versus our forecast of $2,162 million and $3.25, respectively. The weaker top line guidance includes persisting foreign currency headwinds. While EPS guidance was in line it embeds a 14% tax rate versus prior expectations of 18% contributing a $0.12 benefit. Despite the shares being down significantly from the 52 week peak we remain cautious."
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 $35.38 yesterday.
Analyst, Douglas Greiner, said, "Following fiscal 3Q earnings we reiterate our rating. Our revised estimates are $2.74 this year ($2.66 previously) and $3.20 next year ($3.25 previously)...The company introduced guidance for next year of $2,050-$2,100 million in revenue and $3.25-$3.30 in EPS versus our forecast of $2,162 million and $3.25, respectively. The weaker top line guidance includes persisting foreign currency headwinds. While EPS guidance was in line it embeds a 14% tax rate versus prior expectations of 18% contributing a $0.12 benefit. Despite the shares being down significantly from the 52 week peak we remain cautious."
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 $35.38 yesterday.
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