NEW YORK (TheStreet) -- Shares of VeriFone Systems (PAY) were gaining 3.2% to $34.10 after-hours Monday after the point of sale hardware maker beat analysts' estimates for earnings in the fiscal fourth quarter.
VeriFone reported earnings of 44 cents a share for the fourth quarter, beating the FactSet consensus estimate of 41 cents a share. Revenue grew 14% year over year to $491 million for the quarter, beating analysts' estimates of $483 million for the quarter.
Looking to the fiscal first quarter, VeriFone expects earnings of 40 cents a share, while analysts surveyed by FactSet expect earnings of 44 cents a share for the fourth quarter.
TheStreet Ratings team rates VERIFONE SYSTEMS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIFONE SYSTEMS INC (PAY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."