Verra Mobility (NASDAQ:VRRM) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

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

Verra Mobility Stock Performance

VRRM stock traded down $2.85 during trading on Friday, hitting $23.12. 4,324,178 shares of the company’s stock traded hands, compared to its average volume of 832,575. The stock 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 has a 52 week low of $18.76 and a 52 week high of $31.03. The stock has a fifty day moving average price of $27.03 and a two-hundred day moving average price of $27.12. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36.

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