Verra Mobility (NASDAQ:VRRM) Updates FY24 Earnings Guidance

Verra Mobility (NASDAQ:VRRM) updated its FY24 earnings guidance on Thursday. 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.

Analyst Ratings Changes

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

Verra Mobility Stock Down 11.0 %

Verra Mobility stock traded down $2.85 during trading on Friday, reaching $23.12. 4,324,178 shares of the company’s stock were exchanged, compared to its average volume of 832,575. The company’s 50-day moving average is $27.03 and its two-hundred day moving average is $27.12. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. Verra Mobility has a 52-week low of $18.76 and a 52-week high of $31.03. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 1.70 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $222.43 million during the quarter, compared to analyst estimates of $220.32 million. Verra Mobility had a return on equity of 40.09% and a net margin of 11.64%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, analysts predict that Verra Mobility will post 1.07 earnings per share for the current year.

Verra Mobility Company Profile

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.