Zacks: Brokerages Anticipate Verisign, Inc. (NASDAQ:VRSN) Will Announce Earnings of $1.31 Per Share

Equities research analysts expect Verisign, Inc. (NASDAQ:VRSN) to post $1.31 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Verisign’s earnings, with estimates ranging from $1.29 to $1.32. Verisign posted earnings per share of $1.23 in the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Verisign will report full year earnings of $5.25 per share for the current year, with EPS estimates ranging from $5.23 to $5.27. For the next financial year, analysts forecast that the company will post earnings of $5.68 per share, with EPS estimates ranging from $5.51 to $5.84. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Verisign.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.06. Verisign had a net margin of 51.38% and a negative return on equity of 43.63%. The company had revenue of $306.29 million for the quarter, compared to analyst estimates of $306.57 million. During the same period last year, the firm earned $1.18 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis.

VRSN has been the topic of several research reports. ValuEngine lowered shares of Verisign from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $204.75.

Shares of VRSN traded down $4.68 during trading hours on Friday, reaching $200.52. 405,361 shares of the stock traded hands, compared to its average volume of 545,513. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 42.21 and a beta of 1.06. Verisign has a 52 week low of $131.28 and a 52 week high of $221.78. The stock has a fifty day simple moving average of $211.93 and a 200 day simple moving average of $195.69.

In other Verisign news, Director Timothy Tomlinson sold 575 shares of Verisign stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $213.50, for a total value of $122,762.50. Following the sale, the director now owns 34,251 shares of the company’s stock, valued at $7,312,588.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in shares of Verisign by 3.3% in the first quarter. Quadrant Capital Group LLC now owns 1,578 shares of the information services provider’s stock worth $278,000 after purchasing an additional 51 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Verisign by 35.8% in the second quarter. Cornerstone Advisors Inc. now owns 205 shares of the information services provider’s stock worth $43,000 after purchasing an additional 54 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Verisign by 0.3% in the second quarter. Victory Capital Management Inc. now owns 15,718 shares of the information services provider’s stock worth $3,288,000 after purchasing an additional 54 shares in the last quarter. First Republic Investment Management Inc. increased its stake in shares of Verisign by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 1,737 shares of the information services provider’s stock worth $315,000 after purchasing an additional 57 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Verisign by 2.3% in the second quarter. Fisher Asset Management LLC now owns 2,587 shares of the information services provider’s stock worth $541,000 after purchasing an additional 57 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors and hedge funds.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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