Stock under Close Observation: Verra Mobility Corporation (NASDAQ: VRRM)

On 17 Dec 2019, Verra Mobility Corporation (NASDAQ: VRRM) stock observed trading -6.41% off 52-week high price. On the other end, the stock has been noted 59.67% away from low price over the last 52-weeks. The stock disclosed a move of -0.41% away from 50 day moving average and 6.05% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.09% off 20-day moving average. The USA based company Verra Mobility Corporation moved with change of 0.14% to $14.37 with the total traded volume of 897016 shares in recent session versus to an average volume of 1325.59K.

Verra Mobility (VRRM) reported recently financial results for the quarter ended September 30, 2019.

Third Quarter 2019 Financial Highlights

Revenue: Total revenue for the third quarter of 2019 was $128.2M, up 19.2% contrast to $107.6M for the third quarter of 2018. Within total revenue, service revenue was $110.8M and product revenue contributed $17.5M.

Net income: Net income for the third quarter of 2019 was $17.8M, or $0.11 per share, based on 163.7M diluted weighted average shares outstanding. Net income for the comparable 2018 period was $6.5M, or $0.09 per share, based on 72.9M diluted weighted average shares outstanding.

Adjusted EBITDA: Adjusted EBITDA was $70.8M for the third quarter of 2019, up 14.4% contrast to $61.9M in the third quarter of 2018.

Year-To-Date 2019 Financial Highlights

Revenue: Total revenue for year-to-date 2019 was $336.3M, up 22.3% contrast to $275.0M for the year-to-date 2018 period. Within total revenue, service revenue was $311.9M and product revenue was $24.4M.

Net income (loss): Net income for year-to-date 2019 was $24.2M, or $0.15 per share, based on 160.7M diluted weighted average shares outstanding. During the year-to-date 2018 period, we had a net loss of $20.4M, or $0.29 per share, based on 69.3M weighted average shares outstanding.

Adjusted EBITDA: Adjusted EBITDA was $181.8M for year-to-date 2019, up 20.9% contrast to $150.3M for year-to-date 2018.

Third Quarter 2019 Section Detail

Commercial Services section generated total revenue of $77.6M growing 8% over the same period in 2018. Section profit margins continue to be strong at 65.8% for 2019 and 68.7% for the 2018 period.

Government Solutions section generated total revenue of $50.6M growing 42% over the same period in 2018. The growth in this section is driven by product sales in the current period which totaled $17.5M. Section profit was $19.8M, a 58% increase from $12.5M in the previous year. Section margin was 39.1% in 2019 contrast to 35.2% for the previous year period.

VRRM’s shares are at -2.51% for the quarter and driving a 45.15% return over the course of the past year and is now at 47.23% since this point in 2018.  Right now, the stock beta is # ref. The average volatility for the week and month was at 2.36% and 2.52% respectively. There are 157.58M shares outstanding and 128.84M shares are floated in market.

 

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