VeriSign, Inc. (VRSN) to Issue Quarterly Dividend of $0.77 on November 25th

VeriSign, Inc. (NASDAQ:VRSN) announced a quarterly dividend on Tuesday, October 21st. Stockholders of record on Tuesday, November 18th will be given a dividend of 0.77 per share by the information services provider on Tuesday, November 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 18th.

VeriSign has a payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings.

VeriSign Stock Performance

Shares of VeriSign stock opened at $252.88 on Friday. The business’s 50 day moving average price is $265.20 and its 200 day moving average price is $274.01. The company has a market cap of $23.44 billion, a price-to-earnings ratio of 29.47 and a beta of 0.76. VeriSign has a one year low of $176.62 and a one year high of $310.60.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The company had revenue of $419.10 million during the quarter, compared to analysts’ expectations of $416.71 million. During the same period in the prior year, the business earned $2.07 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. VeriSign has set its FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRSN. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a report on Thursday. Robert W. Baird set a $325.00 price objective on VeriSign in a report on Friday, October 24th. Zacks Research upgraded VeriSign to a “hold” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. initiated coverage on VeriSign in a research report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $281.67.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.