Equities research analysts forecast that Verisign, Inc. (NASDAQ:VRSN) will report earnings per share of $1.21 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Verisign’s earnings. Verisign reported earnings per share of $0.96 during the same quarter last year, which suggests a positive year-over-year growth rate of 26%. The company is expected to announce its next quarterly earnings report on Thursday, February 14th.
On average, analysts expect that Verisign will report full-year earnings of $4.69 per share for the current financial year, with EPS estimates ranging from $4.69 to $4.70. For the next year, analysts anticipate that the company will post earnings of $5.28 per share, with EPS estimates ranging from $5.15 to $5.36. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Verisign.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The company had revenue of $305.78 million for the quarter, compared to the consensus estimate of $305.25 million. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%.
VRSN has been the topic of several analyst reports. BidaskClub upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. JPMorgan Chase & Co. upped their target price on shares of Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research note on Monday, September 24th. Robert W. Baird upgraded shares of Verisign from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $170.00 in a research note on Friday, November 2nd. Citigroup upped their target price on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research restated a “hold” rating on shares of Verisign in a research note on Saturday, November 17th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Verisign currently has an average rating of “Hold” and an average target price of $154.40.
In other Verisign news, Director Kathleen A. Cote sold 2,384 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $160.50, for a total value of $382,632.00. Following the transaction, the director now directly owns 37,594 shares in the company, valued at approximately $6,033,837. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Braun Bostich & Associates Inc. grew its stake in Verisign by 1,283.3% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock worth $125,000 after acquiring an additional 847 shares in the last quarter. Sandy Spring Bank lifted its position in shares of Verisign by 100.0% in the 2nd quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock worth $137,000 after purchasing an additional 500 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Verisign in the 2nd quarter worth approximately $149,000. Advisory Services Network LLC lifted its position in shares of Verisign by 954.9% in the 3rd quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock worth $154,000 after purchasing an additional 869 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in shares of Verisign in the 3rd quarter worth approximately $181,000. Institutional investors and hedge funds own 92.19% of the company’s stock.
Shares of NASDAQ:VRSN opened at $153.95 on Friday. The stock has a market cap of $18.56 billion, a P/E ratio of 41.83 and a beta of 0.99. Verisign has a 12 month low of $105.40 and a 12 month high of $176.76.
VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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