Brokerages expect Virtusa Co. (NASDAQ:VRTU) to post earnings per share (EPS) of $0.76 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Virtusa’s earnings. The lowest EPS estimate is $0.74 and the highest is $0.78. Virtusa reported earnings per share of $0.61 during the same quarter last year, which indicates a positive year over year growth rate of 24.6%. The firm is scheduled to announce its next earnings results on Thursday, February 6th.
On average, analysts expect that Virtusa will report full-year earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.54 to $2.59. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.00 per share, with EPS estimates ranging from $2.92 to $3.09. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Virtusa.
Virtusa (NASDAQ:VRTU) last released its earnings results on Thursday, November 7th. The information technology services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.34 by $0.20. Virtusa had a net margin of 2.63% and a return on equity of 11.76%. The business had revenue of $328.50 million during the quarter, compared to analyst estimates of $327.07 million.
Several analysts recently commented on the stock. Zacks Investment Research reissued a “hold” rating on shares of Virtusa in a research note on Saturday, October 12th. BidaskClub downgraded shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Barrington Research restated a “buy” rating and issued a $60.00 price target on shares of Virtusa in a research report on Monday, November 11th. TheStreet upgraded shares of Virtusa from a “c+” rating to a “b-” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Virtusa from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $53.14.
VRTU stock traded down $0.31 on Thursday, hitting $41.25. 278,620 shares of the company’s stock traded hands, compared to its average volume of 430,770. Virtusa has a 1-year low of $31.99 and a 1-year high of $57.00. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 1.12 and a beta of 1.27. The stock has a fifty day moving average of $44.63 and a 200-day moving average of $40.81. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 1.04.
In related news, insider Samir Dhir sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $37.55, for a total value of $150,200.00. Following the completion of the sale, the insider now owns 148,139 shares in the company, valued at approximately $5,562,619.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $35.50, for a total transaction of $266,250.00. Following the completion of the sale, the chief executive officer now owns 706,748 shares of the company’s stock, valued at approximately $25,089,554. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,035 shares of company stock valued at $2,401,303. 4.73% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Virtusa by 1,640.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 644 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 607 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Virtusa in the 2nd quarter valued at approximately $42,000. Oppenheimer Asset Management Inc. increased its stake in Virtusa by 35.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,495 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 390 shares during the period. Quantamental Technologies LLC acquired a new position in Virtusa in the 2nd quarter valued at approximately $79,000. Finally, Jefferies Group LLC acquired a new position in Virtusa in the 2nd quarter valued at approximately $237,000. Institutional investors and hedge funds own 86.08% of the company’s stock.
Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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