Verra Mobility (NASDAQ:VRRM) Releases Earnings Results, Beats Estimates By $0.03 EPS

Verra Mobility (NASDAQ:VRRM) posted its quarterly earnings data on Tuesday. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03, Morningstar.com reports. The firm had revenue of $109.58 million during the quarter, compared to analyst estimates of $103.25 million.

VRRM stock traded up $0.49 on Wednesday, hitting $13.49. 824,416 shares of the company were exchanged, compared to its average volume of 738,088. Verra Mobility has a twelve month low of $9.00 and a twelve month high of $15.07. The company has a debt-to-equity ratio of 2.82, a current ratio of 2.44 and a quick ratio of 2.44. The company has a fifty day simple moving average of $13.41. The firm has a market cap of $2.12 billion, a PE ratio of -20.13 and a beta of 0.40.

In related news, Director Platinum Equity Llc sold 15,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $12.13, for a total transaction of $181,950,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Verra Mobility during the second quarter worth approximately $60,000. Marshall Wace North America L.P. purchased a new stake in Verra Mobility during the first quarter worth approximately $90,000. GSA Capital Partners LLP purchased a new stake in Verra Mobility during the second quarter worth approximately $170,000. Strs Ohio purchased a new stake in Verra Mobility during the second quarter worth approximately $344,000. Finally, Keybank National Association OH purchased a new stake in Verra Mobility during the second quarter worth approximately $393,000. 44.05% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Verra Mobility in a research report on Wednesday, April 24th. They issued an “outperform” rating and a $13.08 price objective for the company. Zacks Investment Research raised shares of Verra Mobility from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Bank of America assumed coverage on shares of Verra Mobility in a research report on Monday, July 22nd. They issued a “neutral” rating and a $14.50 price objective for the company. ValuEngine raised shares of Verra Mobility from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, Robert W. Baird began coverage on shares of Verra Mobility in a research report on Thursday, June 27th. They issued an “outperform” rating and a $17.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.92.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.

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Earnings History for Verra Mobility (NASDAQ:VRRM)

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