Verisign, Inc. (VRSN) Expected to Announce Earnings of $1.21 Per Share

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Analysts expect Verisign, Inc. (NASDAQ:VRSN) to report $1.21 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Verisign’s earnings. Verisign posted earnings per share of $0.96 during the same quarter last year, which indicates a positive year-over-year growth rate of 26%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, February 7th.

On average, analysts expect that Verisign will report full year earnings of $4.70 per share for the current financial year, with EPS estimates ranging from $4.69 to $4.70. For the next financial year, analysts expect that the business will post earnings of $5.26 per share, with EPS estimates ranging from $5.15 to $5.36. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Verisign.

Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $305.78 million for the quarter, compared to analysts’ expectations of $305.25 million. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%.

Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Verisign from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. BidaskClub raised shares of Verisign from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Citigroup upped their price target on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Robert W. Baird raised shares of Verisign from a “neutral” rating to an “outperform” rating and upped their price target for the company from $160.00 to $170.00 in a report on Friday, November 2nd. Finally, JPMorgan Chase & Co. raised shares of Verisign from an “underweight” rating to a “neutral” rating and upped their price target for the company from $125.00 to $160.00 in a report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $160.80.

VRSN traded down $0.21 during trading on Wednesday, hitting $165.75. The company had a trading volume of 1,922 shares, compared to its average volume of 593,167. The stock has a market capitalization of $20.06 billion, a PE ratio of 45.13 and a beta of 0.94. Verisign has a 1-year low of $105.40 and a 1-year high of $176.76.

In other Verisign news, EVP Thomas C. Indelicarto sold 3,300 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $150.81, for a total transaction of $497,673.00. Following the completion of the sale, the executive vice president now owns 55,871 shares in the company, valued at $8,425,905.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen A. Cote sold 2,384 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $160.50, for a total transaction of $382,632.00. Following the sale, the director now owns 37,594 shares of the company’s stock, valued at approximately $6,033,837. The disclosure for this sale can be found here. 1.35% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Verisign by 4.5% during the third quarter. Vanguard Group Inc. now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after acquiring an additional 485,685 shares during the last quarter. Vanguard Group Inc grew its position in shares of Verisign by 4.5% during the third quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after acquiring an additional 485,685 shares during the last quarter. BlackRock Inc. grew its position in shares of Verisign by 2.0% during the third quarter. BlackRock Inc. now owns 8,633,323 shares of the information services provider’s stock worth $1,382,366,000 after acquiring an additional 172,033 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Verisign by 1.8% during the third quarter. Renaissance Technologies LLC now owns 7,037,800 shares of the information services provider’s stock worth $1,126,893,000 after acquiring an additional 122,700 shares during the last quarter. Finally, Capital International Investors bought a new position in shares of Verisign during the third quarter worth about $991,190,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Verisign

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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