Equities research analysts expect Verisign, Inc. (NASDAQ:VRSN) to announce earnings of $1.05 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Verisign’s earnings. The lowest EPS estimate is $1.04 and the highest is $1.05. Verisign posted earnings of $0.96 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, April 26th.
On average, analysts expect that Verisign will report full-year earnings of $4.43 per share for the current fiscal year, with EPS estimates ranging from $4.33 to $4.56. For the next year, analysts forecast that the business will report earnings of $5.02 per share, with EPS estimates ranging from $4.91 to $5.12. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Verisign.
Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 8th. The information services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The firm had revenue of $295.50 million for the quarter, compared to analyst estimates of $294.93 million. During the same period in the previous year, the company earned $0.92 EPS. Verisign’s revenue was up 3.2% compared to the same quarter last year.
A number of equities analysts have commented on the company. 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 report on Friday. BidaskClub cut Verisign from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 28th. ValuEngine raised Verisign from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase increased their price target on Verisign to $106.00 and gave the company an “underweight” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $111.40.
Several large investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB increased its holdings in shares of Verisign by 4.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 29,130 shares of the information services provider’s stock valued at $3,334,000 after purchasing an additional 1,304 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Verisign by 45.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 29,255 shares of the information services provider’s stock valued at $3,348,000 after purchasing an additional 9,172 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Verisign in the fourth quarter valued at approximately $3,002,000. Jump Trading LLC acquired a new stake in shares of Verisign in the fourth quarter valued at approximately $474,000. Finally, MainStreet Investment Advisors LLC acquired a new stake in shares of Verisign in the fourth quarter valued at approximately $932,000.
Shares of Verisign stock traded up $0.29 during mid-day trading on Friday, reaching $122.00. 975,188 shares of the stock traded hands, compared to its average volume of 1,130,975. Verisign has a fifty-two week low of $87.54 and a fifty-two week high of $127.24. The stock has a market capitalization of $11,806.46, a P/E ratio of 33.15 and a beta of 0.86. 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 announced that its board has approved 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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Verisign Company Profile
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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