Zacks: Brokerages Anticipate Verra Mobility Corp (NASDAQ:VRRM) Will Announce Quarterly Sales of $120.58 Million

Share on StockTwits

Equities research analysts predict that Verra Mobility Corp (NASDAQ:VRRM) will post $120.58 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Verra Mobility’s earnings, with the lowest sales estimate coming in at $117.90 million and the highest estimate coming in at $122.40 million. The company is scheduled to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Verra Mobility will report full-year sales of $438.18 million for the current year, with estimates ranging from $436.60 million to $439.57 million. For the next financial year, analysts forecast that the business will report sales of $484.60 million, with estimates ranging from $465.30 million to $514.90 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Verra Mobility.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $109.58 million during the quarter, compared to analysts’ expectations of $103.25 million.

A number of analysts recently commented on the company. William Blair assumed coverage on Verra Mobility in a research report on Wednesday, April 24th. They set an “outperform” rating and a $13.08 price target for the company. Robert W. Baird assumed coverage on Verra Mobility in a research report on Thursday, June 27th. They set an “outperform” rating and a $17.00 price target for the company. Goldman Sachs Group assumed coverage on Verra Mobility in a research report on Tuesday, July 30th. They set a “neutral” rating and a $15.00 price target for the company. ValuEngine downgraded Verra Mobility from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Bank of America assumed coverage on Verra Mobility in a research report on Monday, July 22nd. They set a “neutral” rating and a $14.50 price target for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Verra Mobility currently has a consensus rating of “Hold” and an average target price of $14.92.

In related news, Director Platinum Equity Llc sold 2,250,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.13, for a total transaction of $27,292,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Verra Mobility by 29.7% during the second quarter. Vanguard Group Inc. now owns 10,237,027 shares of the company’s stock valued at $134,003,000 after purchasing an additional 2,343,058 shares during the period. FMR LLC grew its holdings in Verra Mobility by 15.9% during the first quarter. FMR LLC now owns 8,587,585 shares of the company’s stock valued at $102,192,000 after purchasing an additional 1,176,434 shares during the period. BlackRock Inc. grew its holdings in Verra Mobility by 1,110.9% during the second quarter. BlackRock Inc. now owns 6,638,730 shares of the company’s stock valued at $86,900,000 after purchasing an additional 6,090,471 shares during the period. Fairview Capital Investment Management LLC grew its holdings in Verra Mobility by 1.2% during the first quarter. Fairview Capital Investment Management LLC now owns 6,247,064 shares of the company’s stock valued at $74,340,000 after purchasing an additional 77,000 shares during the period. Finally, Bank of America Corp DE grew its holdings in Verra Mobility by 0.6% during the second quarter. Bank of America Corp DE now owns 6,133,091 shares of the company’s stock valued at $80,282,000 after purchasing an additional 33,751 shares during the period. 44.12% of the stock is owned by institutional investors and hedge funds.

Shares of VRRM traded up $0.13 on Monday, reaching $13.91. 503,800 shares of the company’s stock traded hands, compared to its average volume of 909,483. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 2.77. The stock has a market cap of $2.19 billion, a PE ratio of -20.76 and a beta of 0.40. The stock’s 50 day simple moving average is $13.63 and its two-hundred day simple moving average is $12.62. Verra Mobility has a 52-week low of $9.00 and a 52-week high of $15.07.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.

Recommended Story: Differences Between Momentum Investing and Long Term Investing

Get a free copy of the Zacks research report on Verra Mobility (VRRM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Verra Mobility (NASDAQ:VRRM)

Receive News & Ratings for Verra Mobility Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verra Mobility and related companies with MarketBeat.com's FREE daily email newsletter.