Verra Mobility (NASDAQ:VRRM) Issues 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 Analyst Weigh In

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

Verra Mobility Price Performance

NASDAQ:VRRM traded up $0.50 during trading hours on Monday, hitting $26.43. 171,036 shares of the stock were exchanged, compared to its average volume of 1,035,678. Verra Mobility has a 52-week low of $17.04 and a 52-week high of $26.55. The company has a market cap of $4.39 billion, a P/E ratio of 51.86, a P/E/G ratio of 1.95 and a beta of 1.16. The company has a current ratio of 2.75, a quick ratio of 2.64 and a debt-to-equity ratio of 2.31. The firm’s fifty day moving average price is $23.79 and its 200 day moving average price is $22.32.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Thursday, February 29th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Verra Mobility had a net margin of 9.77% and a return on equity of 37.87%. The business had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $201.76 million. As a group, equities research analysts anticipate that Verra Mobility will post 1.07 EPS for the current fiscal year.

Insider Transactions at Verra Mobility

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

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.