VeriSign, Inc. (NASDAQ:VRSN) Expected to Announce Earnings of $0.90 Per Share
Brokerages forecast that VeriSign, Inc. (NASDAQ:VRSN) will post $0.90 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for VeriSign’s earnings. VeriSign reported earnings of $0.83 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.4%. The company is expected to issue its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that VeriSign will report full-year earnings of $3.67 per share for the current year. For the next financial year, analysts expect that the firm will post earnings of $3.97 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for VeriSign.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results 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. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The firm had revenue of $289 million for the quarter, compared to the consensus estimate of $287.47 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis.
A number of research analysts recently issued reports on VRSN shares. Zacks Investment Research upgraded VeriSign from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Tuesday, May 2nd. Citigroup Inc. upgraded VeriSign from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 12th. BidaskClub upgraded VeriSign from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Finally, Cowen and Company reiterated a “market perform” rating and set a $94.00 price objective on shares of VeriSign in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $87.75.
In related news, Director Timothy Tomlinson sold 1,240 shares of the business’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 transaction of $125,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of VeriSign by 1,765.9% in the first quarter. BlackRock Inc. now owns 7,706,691 shares of the information services provider’s stock worth $671,330,000 after buying an additional 7,293,666 shares during the period. Gruss Capital Management LP boosted its position in VeriSign by 340.0% in the first quarter. Gruss Capital Management LP now owns 880,000 shares of the information services provider’s stock worth $76,657,000 after buying an additional 680,000 shares in the last quarter. Strs Ohio boosted its position in VeriSign by 341.2% in the first quarter. Strs Ohio now owns 374,574 shares of the information services provider’s stock worth $32,629,000 after buying an additional 289,680 shares in the last quarter. WINTON GROUP Ltd boosted its position in VeriSign by 147.8% in the first quarter. WINTON GROUP Ltd now owns 327,756 shares of the information services provider’s stock worth $25,644,000 after buying an additional 195,478 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in VeriSign by 55.3% in the first quarter. TIAA CREF Investment Management LLC now owns 535,112 shares of the information services provider’s stock worth $46,614,000 after buying an additional 190,444 shares in the last quarter.
Shares of VeriSign (VRSN) traded down 0.59% during midday trading on Tuesday, hitting $98.73. 634,794 shares of the stock were exchanged. VeriSign has a 52-week low of $74.01 and a 52-week high of $103.79. The firm’s 50 day moving average price is $96.00 and its 200-day moving average price is $88.90. The stock has a market cap of $9.87 billion, a P/E ratio of 26.91 and a beta of 1.20.
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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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