Verra Mobility (NASDAQ:VRRM) Issues Earnings Results

Verra Mobility (NASDAQ:VRRM) posted its earnings results on Wednesday. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25, FiscalAI reports. Verra Mobility had a net margin of 13.95% and a return on equity of 57.45%. The firm had revenue of $223.57 million for the quarter, compared to analyst estimates of $223.34 million.

Verra Mobility Stock Down 1.2%

NASDAQ VRRM traded down $0.18 on Wednesday, hitting $14.32. 1,973,526 shares of the company were exchanged, compared to its average volume of 1,584,232. The company has a market cap of $2.17 billion, a PE ratio of 16.85, a PEG ratio of 2.40 and a beta of 0.67. Verra Mobility has a 12 month low of $13.84 and a 12 month high of $25.83. The stock has a fifty day moving average of $15.28 and a 200-day moving average of $19.47. The company has a current ratio of 2.10, a quick ratio of 2.00 and a debt-to-equity ratio of 3.49.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VRRM. Royal Bank of Canada raised its holdings in Verra Mobility by 14.3% during the first quarter. Royal Bank of Canada now owns 148,464 shares of the company’s stock worth $3,342,000 after buying an additional 18,562 shares during the last quarter. AQR Capital Management LLC raised its holdings in Verra Mobility by 21.7% during the first quarter. AQR Capital Management LLC now owns 34,501 shares of the company’s stock worth $777,000 after buying an additional 6,153 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Verra Mobility by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,120 shares of the company’s stock worth $2,209,000 after buying an additional 4,302 shares during the last quarter. Millennium Management LLC raised its holdings in Verra Mobility by 208.0% during the first quarter. Millennium Management LLC now owns 375,421 shares of the company’s stock worth $8,451,000 after buying an additional 253,529 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Verra Mobility by 33.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,182,297 shares of the company’s stock worth $26,614,000 after buying an additional 293,082 shares during the last quarter.

Wall Street Analyst Weigh In

VRRM has been the topic of a number of research reports. Robert W. Baird set a $24.00 target price on shares of Verra Mobility in a report on Wednesday, February 25th. Wall Street Zen raised shares of Verra Mobility from a “hold” rating to a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on shares of Verra Mobility from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Weiss Ratings lowered shares of Verra Mobility from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Morgan Stanley reduced their price objective on shares of Verra Mobility from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.50.

Verra Mobility Company Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.