Verisign, Inc. (VRSN) Expected to Post Quarterly Sales of $294.77 Million

Equities research analysts expect Verisign, Inc. (NASDAQ:VRSN) to report $294.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Verisign’s earnings. The highest sales estimate is $295.83 million and the lowest is $293.71 million. Verisign reported sales of $286.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is expected to report its next earnings report after the market closes on Thursday, February 8th.

According to Zacks, analysts expect that Verisign will report full year sales of $294.77 million for the current fiscal year, with estimates ranging from $1.16 billion to $1.17 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.21 billion per share. Zacks Investment Research’s sales averages 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. Verisign had a negative return on equity of 36.88% and a net margin of 39.79%. The business had revenue of $292.40 million for the quarter, compared to the consensus estimate of $290.90 million. During the same period last year, the business earned $0.93 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year.

A number of analysts have issued reports on the company. Citigroup raised their target price on Verisign from $101.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Cowen reaffirmed a “hold” rating and issued a $103.00 target price on shares of Verisign in a report on Sunday, October 29th. Robert W. Baird set a $105.00 target price on Verisign and gave the company a “hold” rating in a report on Friday, October 6th. Zacks Investment Research raised Verisign from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, BidaskClub lowered Verisign from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $106.33.

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its stake in Verisign by 18.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 49,940 shares of the information services provider’s stock valued at $5,001,000 after buying an additional 7,948 shares in the last quarter. Gruss Capital Management LP boosted its stake in Verisign by 10.2% in the 3rd quarter. Gruss Capital Management LP now owns 920,000 shares of the information services provider’s stock valued at $97,879,000 after buying an additional 85,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Verisign by 18.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,065 shares of the information services provider’s stock valued at $5,220,000 after buying an additional 7,522 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in Verisign in the 3rd quarter valued at $417,000. Finally, Janus Henderson Group PLC boosted its stake in Verisign by 112.1% in the 3rd quarter. Janus Henderson Group PLC now owns 52,997 shares of the information services provider’s stock valued at $5,638,000 after buying an additional 28,008 shares in the last quarter.

Shares of Verisign (NASDAQ VRSN) traded down $0.06 during mid-day trading on Monday, hitting $114.48. The company had a trading volume of 859,300 shares, compared to its average volume of 793,331. The company has a debt-to-equity ratio of -1.45, a current ratio of 1.57 and a quick ratio of 1.57. Verisign has a 1-year low of $79.21 and a 1-year high of $118.28. The company has a market cap of $11,330.00, a P/E ratio of 30.94 and a beta of 1.04.

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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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