Analysts forecast that Verisign, Inc. (NASDAQ:VRSN) will announce $297.99 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Verisign’s earnings, with estimates ranging from $297.97 million to $298.00 million. Verisign reported sales of $288.61 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The company is scheduled to report its next earnings report on Thursday, April 26th.
On average, analysts expect that Verisign will report full year sales of $297.99 million for the current financial year. For the next year, analysts expect that the business will post sales of $1.26 billion per share, with estimates ranging from $1.25 billion to $1.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Verisign.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The company had revenue of $295.50 million for the quarter, compared to the consensus estimate of $294.93 million. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year.
Shares of Verisign (VRSN) opened at $120.24 on Tuesday. Verisign has a fifty-two week low of $84.89 and a fifty-two week high of $121.61. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.41. The company has a market cap of $11,730.00, a PE ratio of 32.06 and a beta of 0.88.
Verisign declared that its board has initiated a share repurchase plan on Thursday, February 8th that allows the company to buyback $586.00 million in outstanding shares. This buyback authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB lifted its position in Verisign by 4.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 29,130 shares of the information services provider’s stock valued at $3,334,000 after purchasing an additional 1,304 shares during the period. Envestnet Asset Management Inc. lifted its position in Verisign by 45.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 29,255 shares of the information services provider’s stock valued at $3,348,000 after purchasing an additional 9,172 shares during the period. MetLife Investment Advisors LLC acquired a new position in Verisign during the 4th quarter valued at about $3,002,000. Jump Trading LLC acquired a new position in Verisign during the 4th quarter valued at about $474,000. Finally, MainStreet Investment Advisors LLC acquired a new position in Verisign during the 4th quarter valued at about $932,000.
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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