Verra Mobility (NASDAQ:VRRM) Updates FY24 Earnings Guidance

by · The Cerbat Gem

Verra Mobility (NASDAQ:VRRM – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.15-1.20 for the period, compared to the consensus EPS estimate of $1.20. The company issued revenue guidance of $865-880 million, compared to the consensus revenue estimate of $880.54 million. Verra Mobility also updated its FY 2024 guidance to 1.200-1.200 EPS.

Verra Mobility Stock Performance

Shares of NASDAQ:VRRM traded down $2.85 during trading on Friday, reaching $23.12. The company had a trading volume of 4,324,178 shares, compared to its average volume of 832,575. Verra Mobility has a fifty-two week low of $18.76 and a fifty-two week high of $31.03. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.57 and a quick ratio of 2.47. The stock’s fifty day moving average price is $27.03 and its 200 day moving average price is $27.12. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $222.43 million during the quarter, compared to the consensus estimate of $220.32 million. Verra Mobility had a net margin of 11.64% and a return on equity of 40.09%. Verra Mobility’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, equities research analysts predict that Verra Mobility will post 1.07 EPS for the current year.

Wall Street Analysts Forecast Growth

VRRM has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday. Morgan Stanley dropped their target price on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday.

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Verra Mobility Company Profile

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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.

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