Verra Mobility (NASDAQ:VRRM) Issues Earnings Results

Verra Mobility (NASDAQ:VRRM) issued its earnings results on Friday. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10, FiscalAI reports. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%. The business had revenue of $258.88 million during the quarter, compared to analysts’ expectations of $240.57 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM traded down $0.56 during trading hours on Friday, hitting $2.78. 11,433,637 shares of the company’s stock were exchanged, compared to its average volume of 4,482,940. Verra Mobility has a 1-year low of $2.60 and a 1-year high of $23.72. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96. The stock has a market capitalization of $421.90 million, a price-to-earnings ratio of 10.68 and a beta of 0.42. The company’s 50-day moving average price is $3.47 and its 200-day moving average price is $9.69.

Analyst Ratings Changes

A number of research analysts recently commented on VRRM shares. Zacks Research raised Verra Mobility from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. UBS Group upped their price objective on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Morgan Stanley set a $5.00 target price on Verra Mobility in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Verra Mobility in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. dropped their price target on Verra Mobility from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Verra Mobility has an average rating of “Reduce” and an average target price of $6.83.

About Verra Mobility

Verra Mobility Corporation (NASDAQ:VRRM) provides smart mobility technology and services designed to improve transportation safety, efficiency and compliance. The company develops cloud-based solutions that help government agencies, commercial fleets and mobility providers manage transportation-related processes and data.

Its government solutions include automated safety enforcement programs for red-light, speed, school-zone and bus-lane violations, as well as technology supporting school bus safety initiatives.