VeriSign, Inc. (VRSN) Expected to Post Earnings of $0.97 Per Share
Wall Street brokerages expect that VeriSign, Inc. (NASDAQ:VRSN) will announce earnings of $0.97 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for VeriSign’s earnings. The highest EPS estimate is $0.97 and the lowest is $0.96. VeriSign reported earnings of $0.92 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.4%. The company is scheduled to report its next earnings results on Thursday, February 8th.
On average, analysts expect that VeriSign will report full-year earnings of $3.97 per share for the current financial year, with EPS estimates ranging from $3.96 to $3.98. For the next year, analysts expect that the business will post earnings of $4.23 per share, with EPS estimates ranging from $4.20 to $4.27. Zacks’ EPS calculations are an average based on a survey of analysts that follow VeriSign.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. VeriSign had a negative return on equity of 36.88% and a net margin of 39.79%. The firm had revenue of $292.40 million for the quarter, compared to analyst estimates of $290.90 million. During the same period in the prior year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis.
A number of research analysts have commented on VRSN shares. Robert W. Baird set a $105.00 price objective on VeriSign and gave the company a “hold” rating in a report on Friday, October 6th. BidaskClub raised VeriSign from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research lowered VeriSign from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and issued a $103.00 price objective on shares of VeriSign in a report on Sunday, October 29th. Finally, Citigroup Inc. upped their price objective on VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.33.
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Shares of VeriSign (VRSN) traded up $0.33 during midday trading on Friday, reaching $109.75. The company’s stock had a trading volume of 570,100 shares, compared to its average volume of 763,985. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.45. VeriSign has a 52-week low of $75.71 and a 52-week high of $110.82. The firm has a market cap of $10,818.07, a price-to-earnings ratio of 30.66 and a beta of 1.03.
In other news, Director Kathleen A. Cote sold 1,500 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total transaction of $149,910.00. Following the sale, the director now directly owns 38,294 shares of the company’s stock, valued at approximately $3,827,102.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. acquired a new stake in shares of VeriSign during the 2nd quarter worth $350,000. Virtu Financial LLC acquired a new stake in shares of VeriSign during the 2nd quarter worth $211,000. Koch Industries Inc. grew its holdings in shares of VeriSign by 10,263.6% during the 2nd quarter. Koch Industries Inc. now owns 875,519 shares of the information services provider’s stock worth $866,000 after purchasing an additional 867,071 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of VeriSign by 27.4% during the 2nd quarter. Federated Investors Inc. PA now owns 15,972 shares of the information services provider’s stock worth $1,484,000 after purchasing an additional 3,435 shares in the last quarter. Finally, ETF Managers Group LLC acquired a new stake in shares of VeriSign during the 2nd quarter worth $17,892,000.
VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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