Zacks: Analysts Expect VeriSign, Inc. (VRSN) to Announce $0.98 EPS
Equities research analysts forecast that VeriSign, Inc. (NASDAQ:VRSN) will post earnings per share (EPS) of $0.98 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for VeriSign’s earnings, with estimates ranging from $0.97 to $0.99. VeriSign posted earnings per share of $0.93 in the same quarter last year, which would suggest a positive year over year growth rate of 5.4%. The company is expected to report its next earnings results after the market closes on Thursday, October 26th.
According to Zacks, analysts expect that VeriSign will report full year earnings of $3.98 per share for the current fiscal year, with EPS estimates ranging from $3.97 to $3.99. For the next year, analysts anticipate that the business will post earnings of $4.36 per share, with EPS estimates ranging from $4.28 to $4.41. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow VeriSign.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $289.00 million for the quarter, compared to the consensus estimate of $287.47 million. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share.
Several equities analysts recently weighed in on VRSN shares. BidaskClub upgraded shares of VeriSign from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Cowen and Company reiterated a “market perform” rating and issued a $94.00 price target on shares of VeriSign in a report on Monday, July 3rd. Zacks Investment Research downgraded shares of VeriSign from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $105.00 price target on shares of VeriSign in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $99.50.
In other VeriSign news, Director Kathleen A. Cote sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total value of $149,910.00. Following the sale, the director now owns 38,294 shares in the company, valued at approximately $3,827,102.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy Tomlinson sold 1,240 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total value of $125,240.00. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in VRSN. Comerica Bank boosted its position in VeriSign by 2.0% in the 1st quarter. Comerica Bank now owns 27,525 shares of the information services provider’s stock worth $2,437,000 after purchasing an additional 543 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in VeriSign by 13.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 293,930 shares of the information services provider’s stock worth $25,604,000 after purchasing an additional 35,814 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in VeriSign by 1.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,975 shares of the information services provider’s stock worth $869,000 after purchasing an additional 126 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in VeriSign in the 1st quarter worth approximately $178,000. Finally, Pacer Advisors Inc. boosted its position in VeriSign by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 1,654 shares of the information services provider’s stock worth $144,000 after purchasing an additional 55 shares in the last quarter.
VeriSign (VRSN) traded up 0.15% during trading on Tuesday, hitting $109.08. 340,838 shares of the company were exchanged. VeriSign has a 1-year low of $74.46 and a 1-year high of $109.49. The firm’s 50 day moving average price is $103.65 and its 200-day moving average price is $95.25. The stock has a market capitalization of $10.90 billion, a PE ratio of 29.73 and a beta of 1.19.
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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