Verra Mobility (NASDAQ:VRRM) Updates FY24 Earnings Guidance

by · The Markets Daily

Verra Mobility (NASDAQ:VRRM – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.15-1.20 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several analysts have commented on VRRM shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird dropped their price objective on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday. Finally, Morgan Stanley reduced their target price on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday.

View Our Latest Stock Report on Verra Mobility

Verra Mobility Trading Down 11.0 %

VRRM traded down $2.85 during trading on Friday, hitting $23.12. 4,324,178 shares of the company’s stock were exchanged, compared to its average volume of 832,575. Verra Mobility has a 1 year low of $18.76 and a 1 year high of $31.03. The stock has a 50 day moving average price of $27.03 and a 200 day moving average price of $27.12. The firm has a market cap of $3.81 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27. The company has a current ratio of 2.57, a quick ratio of 2.47 and a debt-to-equity ratio of 2.36.

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

About Verra Mobility

(Get Free Report)

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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