Verra Mobility (NASDAQ:VRRM) Releases FY 2024 Earnings Guidance

Verra Mobility (NASDAQ:VRRM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.200-1.200 for the period, compared to the consensus EPS estimate of 1.180. The company issued revenue guidance of $880.0 million-$880.0 million, compared to the consensus revenue estimate of $872.6 million.

Verra Mobility Trading Up 3.0 %

Shares of Verra Mobility stock traded up $0.78 during mid-day trading on Monday, hitting $26.71. 574,224 shares of the stock were exchanged, compared to its average volume of 1,040,486. Verra Mobility has a twelve month low of $17.04 and a twelve month high of $26.72. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 51.86, a price-to-earnings-growth ratio of 1.95 and a beta of 1.16. The company has a 50-day simple moving average of $23.79 and a 200 day simple moving average of $22.32. The company has a current ratio of 2.75, a quick ratio of 2.64 and a debt-to-equity ratio of 2.31.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The firm had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $201.76 million. Verra Mobility had a net margin of 9.77% and a return on equity of 37.87%. Research analysts forecast that Verra Mobility will post 1.07 EPS for the current year.

Analysts Set New Price Targets

Separately, Morgan Stanley boosted their price objective on Verra Mobility from $19.00 to $20.00 and gave the stock an equal weight rating in a report on Tuesday, February 27th.

Insider Buying and Selling at Verra Mobility

In related news, Director John H. Rexford sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $22.82, for a total transaction of $228,200.00. Following the completion of the sale, the director now directly owns 41,275 shares in the company, valued at approximately $941,895.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other Verra Mobility news, insider Jonathan Keyser sold 7,789 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $22.41, for a total value of $174,551.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John H. Rexford sold 10,000 shares of Verra Mobility stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $22.82, for a total value of $228,200.00. Following the completion of the transaction, the director now owns 41,275 shares of the company’s stock, valued at $941,895.50. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.