Virtus Investment Partners Inc (VRTS) to Post Q2 2018 Earnings of $3.16 Per Share, Jefferies Group Forecasts

Virtus Investment Partners Inc (NASDAQ:VRTS) – Equities researchers at Jefferies Group boosted their Q2 2018 earnings estimates for shares of Virtus Investment Partners in a research report issued on Thursday. Jefferies Group analyst S. Thind now expects that the closed-end fund will earn $3.16 per share for the quarter, up from their prior estimate of $3.02. Jefferies Group also issued estimates for Virtus Investment Partners’ Q3 2018 earnings at $3.50 EPS, Q4 2018 earnings at $3.67 EPS, FY2018 earnings at $12.75 EPS and FY2019 earnings at $14.70 EPS.

VRTS has been the topic of several other research reports. Zacks Investment Research lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Saturday, November 18th. TheStreet lowered shares of Virtus Investment Partners from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Morgan Stanley raised their price target on shares of Virtus Investment Partners from $127.00 to $136.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Barclays raised their price target on shares of Virtus Investment Partners from $133.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Finally, BidaskClub lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $139.00.

Shares of Virtus Investment Partners (NASDAQ VRTS) opened at $123.20 on Monday. The firm has a market cap of $901.91, a PE ratio of 16.43, a P/E/G ratio of 0.28 and a beta of 1.79. Virtus Investment Partners has a 12 month low of $97.60 and a 12 month high of $134.65.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.18. The firm had revenue of $128.00 million for the quarter, compared to analyst estimates of $127.09 million. Virtus Investment Partners had a net margin of 8.70% and a return on equity of 13.93%. Virtus Investment Partners’s quarterly revenue was up 60.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.80 annualized dividend and a dividend yield of 1.46%. Virtus Investment Partners’s payout ratio is currently 45.57%.

Large investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. acquired a new stake in shares of Virtus Investment Partners in the third quarter valued at approximately $204,000. Cubist Systematic Strategies LLC increased its stake in shares of Virtus Investment Partners by 1,798.9% in the third quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after purchasing an additional 1,709 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Virtus Investment Partners in the fourth quarter valued at approximately $287,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Virtus Investment Partners by 73.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after purchasing an additional 1,150 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Virtus Investment Partners by 17.5% in the second quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after purchasing an additional 427 shares during the period. Institutional investors own 96.96% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Virtus Investment Partners Inc (VRTS) to Post Q2 2018 Earnings of $3.16 Per Share, Jefferies Group Forecasts” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/21/virtus-investment-partners-inc-vrts-to-post-q2-2018-earnings-of-3-16-per-share-jefferies-group-forecasts.html.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.

Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply