Analysts Anticipate Verisign, Inc. (VRSN) Will Announce Quarterly Sales of $302.44 Million

Wall Street brokerages predict that Verisign, Inc. (NASDAQ:VRSN) will report sales of $302.44 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Verisign’s earnings. The lowest sales estimate is $301.26 million and the highest is $303.63 million. Verisign posted sales of $299.29 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The business is scheduled to issue its next earnings results after the market closes on Thursday, April 25th.

On average, analysts expect that Verisign will report full-year sales of $1.23 billion for the current year. For the next fiscal year, analysts expect that the business will post sales of $1.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Verisign.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.37. Verisign had a negative return on equity of 42.50% and a net margin of 47.94%. The business had revenue of $307.45 million for the quarter, compared to analyst estimates of $308.64 million. During the same quarter in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis.

Several equities analysts have recently commented on VRSN shares. ValuEngine raised Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Saturday, February 9th. BidaskClub raised Verisign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, Citigroup reissued a “neutral” rating and set a $195.00 target price (up previously from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $175.00.

In related news, Director Timothy Tomlinson sold 580 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total transaction of $101,569.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.35% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. increased its holdings in Verisign by 3.8% during the 4th quarter. Suntrust Banks Inc. now owns 1,813 shares of the information services provider’s stock worth $269,000 after purchasing an additional 66 shares during the period. Bessemer Group Inc. increased its holdings in Verisign by 43.5% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock worth $41,000 after purchasing an additional 84 shares during the period. Quadrant Capital Group LLC increased its holdings in Verisign by 6.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,527 shares of the information services provider’s stock worth $219,000 after purchasing an additional 93 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in Verisign by 0.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 18,709 shares of the information services provider’s stock worth $2,774,000 after purchasing an additional 93 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Verisign by 16.4% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 680 shares of the information services provider’s stock worth $101,000 after purchasing an additional 96 shares during the period. 94.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Verisign stock traded up $0.56 during trading hours on Thursday, hitting $189.53. The company’s stock had a trading volume of 1,062,956 shares, compared to its average volume of 621,326. Verisign has a twelve month low of $116.15 and a twelve month high of $190.48. The firm has a market cap of $22.62 billion, a PE ratio of 39.90 and a beta of 1.07.

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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