Equities research analysts expect that VeriSign, Inc. (NASDAQ:VRSN) will announce $291.78 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for VeriSign’s earnings, with the lowest sales estimate coming in at $291.69 million and the highest estimate coming in at $291.86 million. VeriSign reported sales of $287.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The firm is expected to announce its next earnings results after the market closes on Thursday, October 26th.
According to Zacks, analysts expect that VeriSign will report full-year sales of $291.78 million for the current financial year. For the next fiscal year, analysts anticipate that the firm will report sales of $1.21 billion per share, with estimates ranging from $1.20 billion to $1.21 billion. Zacks’ sales averages are an average based on a survey of research firms that cover VeriSign.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 27th. The information services provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. The company had revenue of $289.00 million for the quarter, compared to the consensus estimate of $287.47 million. VeriSign had a negative return on equity of 36.99% and a net margin of 39.92%. VeriSign’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS.
A number of equities research analysts have commented on VRSN shares. Robert W. Baird set a $105.00 target price on VeriSign and gave the company a “hold” rating in a research report on Friday, October 6th. Cowen and Company restated a “market perform” rating and issued a $94.00 target price on shares of VeriSign in a research report on Monday, July 3rd. Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded VeriSign from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $99.50.
In related news, Director Timothy Tomlinson sold 1,240 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total value of $125,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kathleen A. Cote sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total value of $149,910.00. Following the completion of the sale, the director now owns 38,294 shares in the company, valued at approximately $3,827,102.36. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of VRSN. Teachers Advisors LLC raised its holdings in shares of VeriSign by 4.2% in the 1st quarter. Teachers Advisors LLC now owns 106,898 shares of the information services provider’s stock valued at $9,312,000 after buying an additional 4,308 shares during the period. Fifth Third Bancorp raised its holdings in shares of VeriSign by 5.1% in the 1st quarter. Fifth Third Bancorp now owns 1,702 shares of the information services provider’s stock valued at $148,000 after buying an additional 82 shares during the period. Thrivent Financial For Lutherans raised its holdings in shares of VeriSign by 3.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 3,260 shares of the information services provider’s stock valued at $284,000 after buying an additional 100 shares during the period. Global X Management Co. LLC raised its holdings in shares of VeriSign by 52.6% in the 1st quarter. Global X Management Co. LLC now owns 1,439 shares of the information services provider’s stock valued at $125,000 after buying an additional 496 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of VeriSign by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 251,995 shares of the information services provider’s stock valued at $21,951,000 after buying an additional 1,942 shares during the period.
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VeriSign (VRSN) opened at 108.94 on Monday. The firm has a 50-day moving average price of $106.12 and a 200 day moving average price of $96.95. VeriSign has a 12 month low of $75.71 and a 12 month high of $110.82. The company has a market cap of $10.89 billion, a P/E ratio of 29.69 and a beta of 1.19.
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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