$297.99 Million in Sales Expected for Verisign (VRSN) This Quarter

Analysts predict that Verisign (NASDAQ:VRSN) will announce sales of $297.99 million for the current quarter, according to Zacks. Two analysts have made estimates for Verisign’s earnings, with the highest sales estimate coming in at $298.00 million and the lowest estimate coming in at $297.97 million. Verisign reported sales of $288.61 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that Verisign will report full year sales of $1.21 billion for the current year. For the next year, analysts forecast that the business will report sales of $1.26 billion per share, with estimates ranging from $1.25 billion to $1.26 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Verisign.

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Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analysts’ expectations of $294.93 million. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year.

VRSN has been the subject of several recent research reports. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Friday, April 13th. BidaskClub cut Verisign from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. ValuEngine upgraded Verisign from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase lifted their price target on Verisign to $106.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $111.40.

Institutional investors have recently bought and sold shares of the stock. Twin Tree Management LP purchased a new position in Verisign during the fourth quarter worth about $172,000. Mckinley Capital Management LLC Delaware purchased a new position in Verisign during the fourth quarter worth about $177,000. Visionary Asset Management Inc. purchased a new position in Verisign during the third quarter worth about $200,000. Candriam Luxembourg S.C.A. purchased a new position in Verisign during the fourth quarter worth about $208,000. Finally, Mariner Wealth Advisors LLC purchased a new position in Verisign during the fourth quarter worth about $208,000.

NASDAQ:VRSN traded down $0.24 during trading hours on Monday, reaching $126.40. The stock had a trading volume of 119,146 shares, compared to its average volume of 1,078,260. The company has a debt-to-equity ratio of -1.41, a current ratio of 1.57 and a quick ratio of 1.57. Verisign has a 12-month low of $87.54 and a 12-month high of $127.24. The company has a market capitalization of $12,199.33, a P/E ratio of 34.39 and a beta of 0.86.

Verisign declared that its board has approved a stock buyback program on Thursday, February 8th that allows the company to buyback $586.00 million in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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Verisign Company Profile

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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