Virtusa (VRTU) Updates FY19 Earnings Guidance

Virtusa (NASDAQ:VRTU) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $2.19-2.31 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.27. The company issued revenue guidance of $1.241-1.259 billion, compared to the consensus revenue estimate of $1.25 billion.Virtusa also updated its FY 2019 guidance to $2.19-2.31 EPS.

A number of equities analysts recently issued reports on the stock. Barrington Research reiterated a buy rating and set a $64.00 price objective on shares of Virtusa in a research report on Friday. Cantor Fitzgerald upped their price objective on shares of Virtusa from $60.00 to $62.00 and gave the stock an overweight rating in a research report on Friday, August 10th. Needham & Company LLC upped their price objective on shares of Virtusa from $65.00 to $68.00 and gave the stock a strong-buy rating in a research report on Thursday, August 9th. BidaskClub upgraded shares of Virtusa from a hold rating to a buy rating in a research report on Friday, July 13th. Finally, Wedbush upped their price objective on shares of Virtusa from $60.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, August 31st. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Virtusa currently has an average rating of Buy and a consensus target price of $62.00.

NASDAQ VRTU traded down $0.78 on Friday, hitting $48.77. The company’s stock had a trading volume of 283,052 shares, compared to its average volume of 138,088. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.50 and a current ratio of 2.50. Virtusa has a 1-year low of $39.77 and a 1-year high of $58.60. The stock has a market cap of $1.47 billion, a P/E ratio of 54.80, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Thursday, November 8th. The information technology services provider reported $0.54 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Virtusa had a negative net margin of 0.80% and a positive return on equity of 7.38%. The firm had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $306.37 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 23.1% on a year-over-year basis. Analysts predict that Virtusa will post 1.59 earnings per share for the current fiscal year.

In other Virtusa news, President Samir Dhir sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $52.89, for a total value of $211,560.00. Following the completion of the transaction, the president now directly owns 129,045 shares in the company, valued at approximately $6,825,190.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kris A. Canekeratne sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $53.17, for a total transaction of $159,510.00. Following the completion of the transaction, the chief executive officer now owns 722,691 shares of the company’s stock, valued at $38,425,480.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,000 shares of company stock valued at $569,270. Corporate insiders own 5.11% of the company’s stock.

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About Virtusa

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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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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