Verra Mobility (NASDAQ:VRRM) Issues FY24 Earnings Guidance

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

Verra Mobility stock traded down $0.35 during midday trading on Thursday, reaching $25.97. 993,017 shares of the company traded hands, compared to its average volume of 1,044,294. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.57 and a quick ratio of 2.47. Verra Mobility has a 12 month low of $18.76 and a 12 month high of $31.03. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 52.20, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27. The business has a 50 day moving average of $27.15 and a two-hundred day moving average of $27.12.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The firm had revenue of $222.43 million for the quarter, compared to the consensus estimate of $220.32 million. During the same period last year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts predict that Verra Mobility will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VRRM shares. Morgan Stanley cut 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 research report on Wednesday. Robert W. Baird upped their price objective on Verra Mobility from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 9th.

About Verra Mobility

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.