Verisign (NASDAQ:VRSN) announced that its board has approved a stock buyback program, which authorizes the company to buyback $586.00 million in shares on Thursday, February 8th, EventVestor reports. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Verisign (NASDAQ VRSN) traded up $3.47 during midday trading on Friday, reaching $109.09. 2,231,666 shares of the company were exchanged, compared to its average volume of 765,812. The firm has a market capitalization of $10,410.97, a P/E ratio of 29.10 and a beta of 0.92. Verisign has a 52 week low of $81.17 and a 52 week high of $118.28. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of -1.45.
Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The business had revenue of $295.50 million for the quarter, compared to analyst estimates of $294.93 million. Verisign had a net margin of 39.25% and a negative return on equity of 37.29%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. equities analysts predict that Verisign will post 3.9 earnings per share for the current year.
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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