Analysts Expect VeriSign, Inc. (VRSN) Will Announce Quarterly Sales of $291.59 Million
Analysts forecast that VeriSign, Inc. (NASDAQ:VRSN) will report sales of $291.59 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for VeriSign’s earnings. The lowest sales estimate is $291.49 million and the highest is $291.69 million. VeriSign reported sales of $287.55 million in the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that VeriSign will report full-year sales of $291.59 million for the current financial year. For the next fiscal year, analysts expect that the company will report sales of $1.20 billion per share, with estimates ranging from $1.20 billion to $1.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for VeriSign.
VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 27th. The information services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The business had revenue of $289.00 million for the quarter, compared to the consensus estimate of $287.47 million. During the same period last year, the company earned $0.91 EPS. The firm’s revenue was up .9% compared to the same quarter last year.
A number of research firms have recently weighed in on VRSN. Zacks Investment Research lowered VeriSign from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub lowered VeriSign from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Robert W. Baird reissued a “hold” rating and set a $105.00 price objective on shares of VeriSign in a research note on Thursday, August 31st. Finally, Cowen and Company reissued a “market perform” rating and set a $94.00 price objective on shares of VeriSign in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $92.75.
In related news, Director Kathleen A. Cote sold 1,500 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 38,294 shares of the company’s stock, valued at $3,827,102.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Tomlinson sold 1,240 shares of the firm’s stock in a transaction 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. Company insiders own 0.92% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in VeriSign by 3.4% in the second quarter. Vanguard Group Inc. now owns 8,782,015 shares of the information services provider’s stock worth $816,376,000 after acquiring an additional 292,054 shares during the period. BlackRock Inc. raised its holdings in VeriSign by 8.9% in the second quarter. BlackRock Inc. now owns 8,394,049 shares of the information services provider’s stock worth $780,310,000 after purchasing an additional 687,358 shares in the last quarter. Renaissance Technologies LLC raised its holdings in VeriSign by 22.9% in the second quarter. Renaissance Technologies LLC now owns 5,045,476 shares of the information services provider’s stock worth $469,027,000 after purchasing an additional 941,100 shares in the last quarter. Investec Asset Management LTD raised its holdings in VeriSign by 11.0% in the second quarter. Investec Asset Management LTD now owns 2,486,365 shares of the information services provider’s stock worth $231,132,000 after purchasing an additional 247,127 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in VeriSign by 84.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,458,379 shares of the information services provider’s stock worth $135,571,000 after purchasing an additional 668,211 shares in the last quarter.
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VeriSign (NASDAQ VRSN) opened at 104.39 on Friday. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 28.45 and a beta of 1.18. The firm’s 50-day moving average is $101.05 and its 200 day moving average is $93.16. VeriSign has a 12-month low of $74.46 and a 12-month high of $105.00.
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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