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 EPS guidance of 1.200-1.200 for the period, compared to the consensus EPS 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.

Verra Mobility Trading Up 1.8 %

Verra Mobility stock traded up $0.47 during midday trading on Monday, reaching $26.40. The stock had a trading volume of 299,443 shares, compared to its average volume of 1,037,087. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 51.86, a price-to-earnings-growth ratio of 1.95 and a beta of 1.16. The company has a fifty day moving average of $23.79 and a 200 day moving average of $22.32. Verra Mobility has a 52-week low of $17.04 and a 52-week high of $26.55. The company has a quick ratio of 2.64, a current ratio of 2.75 and a debt-to-equity ratio of 2.31.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly 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). The company had revenue of $211.01 million for the quarter, compared to analyst estimates of $201.76 million. Verra Mobility had a return on equity of 37.87% and a net margin of 9.77%. On average, analysts anticipate that Verra Mobility will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

About Verra Mobility

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.