Hot Tech stock to watch: Verisk Analytics, Inc. (NASDAQ: VRSK)

Free $100 Forex No-Deposit Bonus

Verisk Analytics, Inc. (NASDAQ: VRSK) stock rose over 0.9% on 6th may, 2020 (As of 12:42 pm GMT-4; Source; Google finance) after the company posted better than expected results for the first quarter of FY 20. The company has generated net cash provided by operating activities of $363 million for the first quarter of 2020, which is down 1%. The company incurred the capital expenditures of $53 million for the first quarter of 2020, up 17.0%. The company has generated free cash flow was $310 million for the first quarter of 2020, down 3.5%, mainly due to an increase in interest payments and the timing of certain customer collections and operating expense payments. The free cash flow forms 97.4% of adjusted EBITDA for the first quarter of 2020, compared to 110% in the prior-year period. Overall, the company has reported 27.8% rise in the net income for the first quarter of FY 20 due to organic growth in the business, gains from dispositions, and a lower level of acquisition-related costs (earn-outs), which was partially offset by the timing shift of a $10 million expense related to annual long-term equity incentive grants that was recognized in the first quarter of this year as compared to the second quarter in the prior year. Adjusted EBITDA rose 9.0%, and 7.4% on an OCC basis.

VRSK in the first quarter of FY 20 has reported 13.6 percent increase in the adjusted earnings per share to $1.17, beating the analysts’ estimates for the adjusted earnings per share of $1.14, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 10.4 percent to $689.80 million in the first quarter of FY 20, beating the analysts’ estimates for revenue by 0.62%.

Additionally, the company in March paid a cash dividend of 27 cents per share of common stock issued and outstanding to the holders of record as of March 13, 2020. The company has now approved a cash dividend of 27 cents per share of common stock issued and outstanding, which will be payable on June 30, 2020, to holders of record as of June 15, 2020. In the first quarter of 2020, the company had repurchased about 1.1 million shares at an average price of $154.56, for a total cost of $174 million for the first quarter of 2020. At the end of March, 2020, the company had $454 million remaining under its share repurchase authorization.

 

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.