Verra Mobility Corp (NASDAQ:VRRM) Expected to Announce Quarterly Sales of $79.42 Million

Equities research analysts expect that Verra Mobility Corp (NASDAQ:VRRM) will announce $79.42 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Verra Mobility’s earnings, with the highest sales estimate coming in at $82.30 million and the lowest estimate coming in at $74.35 million. Verra Mobility posted sales of $109.58 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.5%. The company is scheduled to issue its next earnings results on Tuesday, August 4th.

On average, analysts expect that Verra Mobility will report full-year sales of $398.75 million for the current year, with estimates ranging from $375.00 million to $417.98 million. For the next year, analysts anticipate that the business will post sales of $475.76 million, with estimates ranging from $433.15 million to $555.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Verra Mobility.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.07). The company had revenue of $116.71 million for the quarter, compared to analyst estimates of $100.64 million. Verra Mobility had a return on equity of 35.20% and a net margin of 7.97%.

Several brokerages recently weighed in on VRRM. Morgan Stanley lifted their price objective on shares of Verra Mobility from $13.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Credit Suisse Group cut their price objective on shares of Verra Mobility from $17.00 to $10.50 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Zacks Investment Research downgraded shares of Verra Mobility from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research report on Friday, June 19th. Deutsche Bank dropped their price target on shares of Verra Mobility from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Finally, ValuEngine upgraded shares of Verra Mobility from a “sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.44.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Verra Mobility by 5.2% in the first quarter. BlackRock Inc. now owns 9,599,954 shares of the company’s stock valued at $68,544,000 after acquiring an additional 477,275 shares during the last quarter. State Street Corp lifted its stake in shares of Verra Mobility by 15.8% in the first quarter. State Street Corp now owns 2,860,340 shares of the company’s stock worth $20,423,000 after buying an additional 391,230 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Verra Mobility by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 133,662 shares of the company’s stock worth $1,870,000 after buying an additional 5,866 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Verra Mobility in the first quarter worth $1,376,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Verra Mobility by 81.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 647,320 shares of the company’s stock worth $9,056,000 after buying an additional 289,967 shares during the last quarter. Hedge funds and other institutional investors own 91.34% of the company’s stock.

Shares of Verra Mobility stock traded up $0.30 during trading hours on Friday, reaching $10.58. The company’s stock had a trading volume of 1,125,800 shares, compared to its average volume of 1,711,036. The company’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $11.71. The company has a debt-to-equity ratio of 2.51, a quick ratio of 3.69 and a current ratio of 3.69. Verra Mobility has a one year low of $5.63 and a one year high of $17.20. The stock has a market cap of $1.66 billion, a P/E ratio of 46.00 and a beta of 1.53.

Verra Mobility Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.

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Earnings History and Estimates for Verra Mobility (NASDAQ:VRRM)

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