Analysts Expect Virtusa Co. (VRTU) Will Post Earnings of $0.57 Per Share

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Brokerages expect Virtusa Co. (NASDAQ:VRTU) to report earnings per share (EPS) of $0.57 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Virtusa’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.65. Virtusa reported earnings of $0.50 per share in the same quarter last year, which would indicate a positive year over year growth rate of 14%. The company is expected to issue its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Virtusa will report full year earnings of $2.69 per share for the current fiscal year, with EPS estimates ranging from $2.64 to $2.75. For the next year, analysts forecast that the business will report earnings of $3.34 per share, with EPS estimates ranging from $3.33 to $3.34. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Virtusa.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Wednesday, May 15th. The information technology services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.06). The company had revenue of $327.60 million during the quarter, compared to analyst estimates of $330.91 million. Virtusa had a net margin of 1.29% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS.

A number of research analysts recently commented on the company. Zacks Investment Research raised Virtusa from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Friday, April 12th. BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Barrington Research reaffirmed a “buy” rating and issued a $64.00 price target on shares of Virtusa in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $60.00 price target on shares of Virtusa in a research note on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $56.00 price target (down previously from $62.00) on shares of Virtusa in a research note on Thursday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Virtusa currently has a consensus rating of “Buy” and a consensus price target of $58.83.

In other Virtusa news, President Samir Dhir sold 4,000 shares of Virtusa stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $54.99, for a total value of $219,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $55.05, for a total value of $660,600.00. Following the completion of the transaction, the chief executive officer now owns 585,117 shares in the company, valued at approximately $32,210,690.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,175 shares of company stock valued at $7,677,389. 5.11% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Virtusa by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,352,310 shares of the information technology services provider’s stock valued at $126,343,000 after acquiring an additional 55,460 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Virtusa by 8.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 999,374 shares of the information technology services provider’s stock valued at $42,563,000 after acquiring an additional 77,337 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its position in Virtusa by 6.0% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 181,963 shares of the information technology services provider’s stock valued at $7,750,000 after acquiring an additional 10,274 shares during the last quarter. Pier Capital LLC bought a new position in Virtusa in the first quarter valued at about $7,264,000. Finally, Monarch Partners Asset Management LLC bought a new position in Virtusa in the fourth quarter valued at about $6,792,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.

VRTU stock opened at $44.38 on Friday. The stock has a market capitalization of $1.29 billion, a P/E ratio of 30.40, a P/E/G ratio of 1.11 and a beta of 1.05. Virtusa has a 52 week low of $37.80 and a 52 week high of $58.60. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.72 and a quick ratio of 2.35.

Virtusa Company Profile

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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