Equities analysts forecast that Virtusa Co. (NASDAQ:VRTU) will post earnings of $0.53 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Virtusa’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.51. Virtusa reported earnings per share of $0.54 during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.9%. The business is scheduled to announce its next earnings report on Thursday, November 14th.
On average, analysts expect that Virtusa will report full-year earnings of $2.54 per share for the current year, with EPS estimates ranging from $2.50 to $2.55. For the next year, analysts expect that the company will report earnings of $3.09 per share, with EPS estimates ranging from $2.98 to $3.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Virtusa.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Virtusa had a return on equity of 11.67% and a net margin of 2.23%. The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $317.59 million. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.
A number of brokerages recently issued reports on VRTU. Barrington Research reissued an “outperform” rating and issued a $60.00 price objective (down from $64.00) on shares of Virtusa in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $56.00 price objective (down from $62.00) on shares of Virtusa in a report on Thursday, May 16th. Needham & Company LLC reissued a “strong-buy” rating and issued a $60.00 price objective on shares of Virtusa in a report on Thursday, May 16th. TheStreet lowered Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price target (down from $70.00) on shares of Virtusa in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Virtusa presently has a consensus rating of “Buy” and a consensus price target of $56.17.
VRTU stock traded up $0.85 on Friday, reaching $34.62. The company’s stock had a trading volume of 240,600 shares, compared to its average volume of 228,944. Virtusa has a 52 week low of $31.99 and a 52 week high of $58.60. The company has a market capitalization of $1.02 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. The firm has a fifty day moving average of $42.69 and a two-hundred day moving average of $48.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.58 and a quick ratio of 2.71.
In other news, CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $44.31, for a total transaction of $332,325.00. Following the completion of the sale, the chief executive officer now owns 723,926 shares in the company, valued at approximately $32,077,161.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Doody acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were bought at an average price of $42.50 per share, with a total value of $212,500.00. Following the transaction, the director now directly owns 14,684 shares in the company, valued at approximately $624,070. The disclosure for this purchase can be found here. Company insiders own 4.73% of the company’s stock.
Several large investors have recently made changes to their positions in VRTU. Nuveen Asset Management LLC purchased a new stake in shares of Virtusa in the second quarter valued at $16,669,000. Norges Bank purchased a new stake in shares of Virtusa in the fourth quarter valued at $15,553,000. GW&K Investment Management LLC lifted its holdings in shares of Virtusa by 38.6% in the second quarter. GW&K Investment Management LLC now owns 805,998 shares of the information technology services provider’s stock valued at $35,810,000 after purchasing an additional 224,654 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Virtusa in the first quarter valued at $8,441,000. Finally, Morgan Stanley lifted its holdings in shares of Virtusa by 948.2% in the second quarter. Morgan Stanley now owns 153,502 shares of the information technology services provider’s stock valued at $6,820,000 after purchasing an additional 138,858 shares in the last quarter. Institutional investors own 79.55% 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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