Equities research analysts expect Verisign, Inc. (NASDAQ:VRSN) to post $304.74 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Verisign’s earnings, with estimates ranging from $304.23 million to $305.25 million. Verisign reported sales of $292.43 million during the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The firm is expected to report its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Verisign will report full-year sales of $1.21 billion for the current financial year. For the next year, analysts expect that the business will report sales of $1.28 billion per share. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Verisign.
Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, July 26th. The information services provider reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. Verisign had a negative return on equity of 37.20% and a net margin of 40.38%. The business had revenue of $302.40 million during the quarter, compared to the consensus estimate of $302.47 million. During the same period last year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis.
A number of analysts have issued reports on VRSN shares. JPMorgan Chase & Co. raised their target price on Verisign from $122.00 to $123.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 30th. Robert W. Baird reissued a “hold” rating and issued a $160.00 target price on shares of Verisign in a research report on Friday, July 27th. Finally, Cowen reissued a “hold” rating and issued a $155.00 target price on shares of Verisign in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Verisign presently has a consensus rating of “Hold” and an average target price of $138.60.
NASDAQ:VRSN traded down $2.86 during trading hours on Friday, reaching $156.38. The stock had a trading volume of 575,400 shares, compared to its average volume of 953,001. The company has a debt-to-equity ratio of -1.29, a current ratio of 1.33 and a quick ratio of 1.33. Verisign has a 12-month low of $102.06 and a 12-month high of $160.08. The company has a market capitalization of $19.34 billion, a P/E ratio of 42.81 and a beta of 0.90.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in shares of Verisign by 36.3% in the second quarter. Public Employees Retirement System of Ohio now owns 52,920 shares of the information services provider’s stock valued at $7,272,000 after purchasing an additional 14,100 shares in the last quarter. Nomura Holdings Inc. grew its position in shares of Verisign by 32.7% in the second quarter. Nomura Holdings Inc. now owns 22,102 shares of the information services provider’s stock valued at $3,037,000 after purchasing an additional 5,452 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Verisign by 4.8% in the second quarter. Schroder Investment Management Group now owns 839,617 shares of the information services provider’s stock valued at $64,137,000 after purchasing an additional 38,232 shares in the last quarter. Global X Management Co LLC grew its position in shares of Verisign by 41.5% in the second quarter. Global X Management Co LLC now owns 3,692 shares of the information services provider’s stock valued at $507,000 after purchasing an additional 1,082 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Verisign by 16.6% in the second quarter. California Public Employees Retirement System now owns 311,138 shares of the information services provider’s stock valued at $42,757,000 after purchasing an additional 44,379 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.
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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