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.