Verra Mobility (NASDAQ:VRRM) Releases FY 2024 Earnings Guidance

Verra Mobility (NASDAQ:VRRM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.200-1.200 for the period, compared to the consensus earnings per share estimate of 1.180. The company issued revenue guidance of $880.0 million-$880.0 million, compared to the consensus revenue estimate of $872.6 million.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley boosted their price target on Verra Mobility from $19.00 to $20.00 and gave the company an equal weight rating in a research note on Tuesday, February 27th.

Verra Mobility Stock Up 1.7 %

Shares of VRRM stock traded up $0.44 on Monday, reaching $26.37. 106,566 shares of the company were exchanged, compared to its average volume of 1,034,757. Verra Mobility has a one year low of $17.04 and a one year high of $26.47. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 51.86, a PEG ratio of 1.95 and a beta of 1.16. The company has a 50-day moving average of $23.79 and a 200-day moving average of $22.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.75 and a quick ratio of 2.64.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). The firm had revenue of $211.01 million during the quarter, compared to the consensus estimate of $201.76 million. Verra Mobility had a return on equity of 37.87% and a net margin of 9.77%. Analysts anticipate that Verra Mobility will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Verra Mobility

In other news, Director John H. Rexford sold 10,000 shares of Verra Mobility stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $22.82, for a total transaction of $228,200.00. Following the completion of the transaction, the director now directly owns 41,275 shares in the company, valued at $941,895.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jonathan Keyser sold 7,789 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $22.41, for a total transaction of $174,551.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John H. Rexford sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $22.82, for a total value of $228,200.00. Following the transaction, the director now owns 41,275 shares in the company, valued at $941,895.50. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Verra Mobility Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.