Verra Mobility (NASDAQ:VRRM) Issues Earnings Results

Verra Mobility (NASDAQ:VRRM) announced its quarterly earnings data on Friday. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10, FiscalAI reports. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The firm had revenue of $258.88 million during the quarter, compared to analyst estimates of $240.57 million. During the same period in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis.

Verra Mobility Stock Down 16.2%

VRRM traded down $0.54 on Friday, hitting $2.80. 13,019,148 shares of the company were exchanged, compared to its average volume of 4,492,165. The firm has a 50-day moving average price of $3.47 and a two-hundred day moving average price of $9.69. The company has a current ratio of 2.06, a quick ratio of 1.96 and a debt-to-equity ratio of 4.58. The company has a market cap of $425.55 million, a price-to-earnings ratio of 10.77 and a beta of 0.42. Verra Mobility has a twelve month low of $2.60 and a twelve month high of $23.72.

Wall Street Analyst Weigh In

VRRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Verra Mobility from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Morgan Stanley set a $5.00 price objective on shares of Verra Mobility in a research note on Thursday, August 6th. Zacks Research raised Verra Mobility from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. UBS Group lifted their target price on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Verra Mobility in a research report on Monday, September 14th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $6.83.

About Verra Mobility

Verra Mobility Corporation (NASDAQ:VRRM) provides smart mobility technology and services designed to improve transportation safety, efficiency and compliance. The company develops cloud-based solutions that help government agencies, commercial fleets and mobility providers manage transportation-related processes and data.

Its government solutions include automated safety enforcement programs for red-light, speed, school-zone and bus-lane violations, as well as technology supporting school bus safety initiatives.