Verra Mobility (NASDAQ:VRRM) Updates 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.

Wall Street Analysts Forecast Growth

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

Verra Mobility Trading Up 3.0 %

Shares of Verra Mobility stock traded up $0.78 during trading on Monday, hitting $26.71. 574,224 shares of the company were exchanged, compared to its average volume of 1,040,486. Verra Mobility has a 1-year low of $17.04 and a 1-year high of $26.72. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.75 and a quick ratio of 2.64. The firm has a market capitalization of $4.43 billion, a P/E ratio of 51.86, a price-to-earnings-growth ratio of 1.95 and a beta of 1.16. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The business 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%. As a group, sell-side analysts expect that Verra Mobility will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Verra Mobility

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

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.