Analysts predict that Verisign, Inc. (NASDAQ:VRSN) will post $302.00 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Verisign’s earnings, with estimates ranging from $301.57 million to $302.42 million. Verisign posted sales of $288.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.7%. The business is scheduled to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that Verisign will report full year sales of $1.21 billion for the current financial year. For the next fiscal year, analysts forecast that the company will report sales of $1.26 billion per share, with estimates ranging from $1.25 billion to $1.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Verisign.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 26th. The information services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.01. Verisign had a negative return on equity of 37.57% and a net margin of 40.41%. The firm had revenue of $299.29 million during the quarter, compared to the consensus estimate of $298.00 million. During the same period in the prior year, the company earned $0.96 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year.
VRSN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Verisign to $106.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. ValuEngine raised Verisign from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 16th. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Friday, April 13th. Finally, Citigroup raised their target price on Verisign from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $113.80.
NASDAQ VRSN opened at $138.68 on Friday. Verisign has a one year low of $92.13 and a one year high of $145.57. The company has a debt-to-equity ratio of -1.44, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $13.61 billion, a P/E ratio of 37.68 and a beta of 0.90.
Several institutional investors and hedge funds have recently modified their holdings of VRSN. Renaissance Technologies LLC increased its position in shares of Verisign by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 6,826,054 shares of the information services provider’s stock worth $781,174,000 after purchasing an additional 916,278 shares during the last quarter. American Century Companies Inc. increased its position in shares of Verisign by 230.1% during the 1st quarter. American Century Companies Inc. now owns 1,078,110 shares of the information services provider’s stock worth $127,821,000 after purchasing an additional 751,462 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Verisign by 17.4% during the 4th quarter. Guggenheim Capital LLC now owns 742,482 shares of the information services provider’s stock worth $84,970,000 after purchasing an additional 110,026 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Verisign by 170.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 147,800 shares of the information services provider’s stock worth $17,524,000 after purchasing an additional 93,171 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its position in shares of Verisign by 451.5% during the 4th quarter. Standard Life Aberdeen plc now owns 107,366 shares of the information services provider’s stock worth $12,290,000 after purchasing an additional 87,899 shares during the last quarter.
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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