Equities analysts expect Verisign, Inc. (NASDAQ:VRSN) to post $1.05 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Verisign’s earnings. The highest EPS estimate is $1.05 and the lowest is $1.04. Verisign posted earnings per share of $0.96 during the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The firm is expected to announce its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Verisign will report full year earnings of $4.43 per share for the current year, with EPS estimates ranging from $4.33 to $4.56. For the next fiscal year, analysts anticipate that the business will report earnings of $5.02 per share, with EPS estimates ranging from $4.91 to $5.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Verisign.
Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, February 8th. The information services provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The firm had revenue of $295.50 million during the quarter, compared to the consensus estimate of $294.93 million. During the same quarter last year, the company posted $0.92 EPS. Verisign’s revenue for the quarter was up 3.2% on a year-over-year basis.
VRSN has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Verisign from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. upped their target price on shares of Verisign to $106.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, ValuEngine upgraded shares of Verisign from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $106.25.
Verisign (NASDAQ:VRSN) traded up $1.42 during midday trading on Friday, reaching $126.73. 644,121 shares of the company’s stock traded hands, compared to its average volume of 1,042,792. Verisign has a 1 year low of $86.16 and a 1 year high of $127.24. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.41. The company has a market cap of $11,946.80, a PE ratio of 33.96 and a beta of 0.89.
Verisign declared that its board has initiated a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $586.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Grove Bank & Trust boosted its holdings in shares of Verisign by 186.5% in the third quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 690 shares in the last quarter. Twin Tree Management LP bought a new position in shares of Verisign in the fourth quarter valued at approximately $172,000. Mckinley Capital Management LLC Delaware bought a new position in shares of Verisign in the fourth quarter valued at approximately $177,000. Visionary Asset Management Inc. bought a new position in shares of Verisign in the third quarter valued at approximately $200,000. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Verisign in the fourth quarter valued at approximately $208,000.
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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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