Analysts expect that Verisign, Inc. (NASDAQ:VRSN) will report $306.52 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Verisign’s earnings. The lowest sales estimate is $305.90 million and the highest is $307.14 million. Verisign reported sales of $302.45 million in the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The business is scheduled to announce its next earnings results after the market closes on Thursday, July 25th.

According to Zacks, analysts expect that Verisign will report full-year sales of $1.23 billion for the current fiscal year. For the next financial year, analysts forecast that the firm will post sales of $1.29 billion, with estimates ranging from $1.29 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Verisign.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $306.41 million during the quarter, compared to the consensus estimate of $302.63 million. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS.

Several research firms have recently issued reports on VRSN. BidaskClub downgraded Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $180.80.

In related news, Director Timothy Tomlinson sold 378 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $199.55, for a total value of $75,429.90. Following the completion of the transaction, the director now owns 34,094 shares of the company’s stock, valued at approximately $6,803,457.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in VRSN. Nisa Investment Advisors LLC grew its holdings in shares of Verisign by 1.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,077 shares of the information services provider’s stock worth $8,173,000 after purchasing an additional 526 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Verisign by 3.1% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,970 shares of the information services provider’s stock worth $2,085,000 after purchasing an additional 301 shares during the period. Pure Financial Advisors Inc. purchased a new stake in shares of Verisign during the 2nd quarter worth about $209,000. Sanders Morris Harris LLC purchased a new stake in shares of Verisign during the 2nd quarter worth about $1,536,000. Finally, Calton & Associates Inc. grew its holdings in shares of Verisign by 6.8% during the 2nd quarter. Calton & Associates Inc. now owns 2,867 shares of the information services provider’s stock worth $600,000 after purchasing an additional 183 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:VRSN traded up $1.06 during midday trading on Friday, hitting $219.65. 352,600 shares of the stock were exchanged, compared to its average volume of 593,375. The company has a market capitalization of $26.09 billion, a PE ratio of 46.24 and a beta of 1.03. Verisign has a twelve month low of $131.28 and a twelve month high of $220.00. The firm has a 50 day simple moving average of $206.21.

About Verisign

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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