VeriSign (VRSN) to Report Q3 Earnings: What's in Store?
VeriSign, Inc VRSN is set to report third-quarter 2023 results on Oct 26, after the closing bell.
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at $1.74 per share and $373.8 million, suggesting increases of 10.1% and 4.7%, respectively, from the year-ago quarter’s reported figures.
The company’s earnings beat the consensus estimate in all the last four quarters, the average beat being 5.2%.
VeriSign, Inc. Price and EPS Surprise
VeriSign, Inc. price-eps-surprise | VeriSign, Inc. Quote
Factors to Note
VeriSign’s third-quarter earnings are expected to have benefited from continued healthy growth across .com and .net domain name registrations. It is expected to have gained from growing Internet consumption globally. The company’s efforts to expand its critical infrastructure to tap the growing demand for DNS navigation services in industries like commerce, education and healthcare bode well.
VRSN ended second-quarter 2023 with 174.4 million .com and .net domain name registrations, up 0.1% year over year. Our estimate for domain name base for the third quarter is pegged at 175.6 million, representing a rise of 0.8% year over year.
In the last reported quarter, the company processed 10.2 million new domain name registrations for .com and .net compared with 10.1 million in the year-ago quarter. Our estimate for new domain name registrations for the third quarter is pegged at 9.6 million.
Also, escalating operating expenses related to cybersecurity and infrastructure spending are likely to have weighed on the company’s third-quarter operating margin on a year-over-year basis.
What Does the Zacks Model Say
Our proven model does not conclusively predict an earnings beat for VeriSign this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
VRSN has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter.
Cummins CMI will release third-quarter 2023 results on Nov 2. The company has an Earnings ESP of +0.48% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Cummin’s to-be-reported quarter’s earnings and revenues is pegged at $4.70 per share and $8.19 billion, respectively. Shares of CMI have gained 1% in the past year.
Oshkosh Corporation OSK will release third-quarter 2023 results on Oct 26. The company has an Earnings ESP of +8.24% and a Zacks Rank #3.
The Zacks Consensus Estimate for Oshkosh’s to-be-reported quarter’s earnings and revenues is pegged at $2.18 per share and $2.46 billion, respectively. Shares of OSK have gained 6.7% in the past year.
Pinterest PINS has an Earnings ESP of +1.21% and a Zacks Rank #1. PINS is set to report its third-quarter 2023 results on Oct 30.
The Zacks Consensus Estimate for PINS’ to-be-reported quarter’s earnings and revenues is pegged at 21 cents per share and $742.3 million, respectively. Pinterest shares have gained 18.1% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
Cummins Inc. (CMI) : Free Stock Analysis Report
Oshkosh Corporation (OSK) : Free Stock Analysis Report
Pinterest, Inc. (PINS) : Free Stock Analysis Report
