Verisign (VRSN) Expected to Announce Earnings of $1.14 Per Share

Equities analysts expect Verisign (NASDAQ:VRSN) to report earnings of $1.14 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Verisign’s earnings, with the highest EPS estimate coming in at $1.15 and the lowest estimate coming in at $1.13. Verisign reported earnings per share of $1.05 during the same quarter last year, which indicates a positive year-over-year growth rate of 8.6%. The company is expected to announce its next quarterly earnings results on Thursday, July 26th.

According to Zacks, analysts expect that Verisign will report full year earnings of $4.57 per share for the current fiscal year, with EPS estimates ranging from $4.53 to $4.59. For the next fiscal year, analysts anticipate that the company will report earnings of $5.15 per share, with EPS estimates ranging from $5.09 to $5.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Verisign.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, April 26th. The information services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.01. Verisign had a net margin of 40.41% and a negative return on equity of 37.57%. The business had revenue of $299.29 million for the quarter, compared to analysts’ expectations of $298.00 million. During the same quarter last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.

VRSN has been the topic of several recent research reports. BidaskClub cut shares of Verisign from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Friday, April 13th. ValuEngine raised shares of Verisign from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. JPMorgan Chase & Co. raised their price target on shares of Verisign to $106.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Finally, Citigroup lifted their target price on shares of Verisign from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Verisign presently has an average rating of “Hold” and an average price target of $113.80.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Verisign by 2.3% during the 4th quarter. BlackRock Inc. now owns 8,531,215 shares of the information services provider’s stock worth $976,313,000 after buying an additional 194,074 shares in the last quarter. OppenheimerFunds Inc. bought a new position in shares of Verisign during the 4th quarter worth approximately $210,000. Swiss National Bank lifted its position in shares of Verisign by 31.1% during the 4th quarter. Swiss National Bank now owns 442,230 shares of the information services provider’s stock worth $50,609,000 after buying an additional 104,900 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of Verisign during the 4th quarter worth approximately $208,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Verisign during the 4th quarter worth approximately $5,496,000.

NASDAQ VRSN traded down $0.04 during trading hours on Friday, hitting $128.17. The company’s stock had a trading volume of 602,200 shares, compared to its average volume of 1,104,236. Verisign has a 52 week low of $89.88 and a 52 week high of $129.00. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 34.83 and a beta of 0.87. The company has a debt-to-equity ratio of -1.44, a quick ratio of 1.55 and a current ratio of 1.55.

Verisign declared that its board has approved a stock buyback program on Thursday, February 8th that permits the company to buyback $586.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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