$0.53 EPS Expected for Virtusa Co. (NASDAQ:VRTU) This Quarter

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Equities analysts expect Virtusa Co. (NASDAQ:VRTU) to report earnings per share of $0.53 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Virtusa’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.51. Virtusa posted earnings of $0.54 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.9%. The business is scheduled to report its next quarterly 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 financial year, with EPS estimates ranging from $2.50 to $2.55. For the next year, analysts anticipate that the business 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 research analysts that cover Virtusa.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Virtusa had a net margin of 2.23% and a return on equity of 11.67%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $317.59 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Virtusa’s quarterly revenue was up 6.3% on a year-over-year basis.

Several research firms recently commented on VRTU. Wedbush reissued an “outperform” rating and set a $60.00 price objective (down previously from $70.00) on shares of Virtusa in a research note on Thursday, May 16th. Barrington Research reissued an “outperform” rating and set a $60.00 price objective (down previously from $64.00) on shares of Virtusa in a research note on Monday, August 12th. ValuEngine lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Needham & Company LLC reissued a “strong-buy” rating and set a $60.00 price objective on shares of Virtusa in a research note on Thursday, May 16th. Finally, TheStreet lowered shares of Virtusa from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.17.

In other news, CEO Kris A. Canekeratne sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $44.31, for a total value of $332,325.00. Following the transaction, the chief executive officer now owns 723,926 shares in the company, valued at $32,077,161.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Doody bought 5,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was purchased at an average price of $42.50 per share, for a total transaction of $212,500.00. Following the purchase, the director now owns 14,684 shares of the company’s stock, valued at approximately $624,070. The disclosure for this purchase can be found here. Corporate insiders own 4.73% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its holdings in shares of Virtusa by 50.0% during the fourth quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Virtusa by 1,640.5% during the second quarter. Tower Research Capital LLC TRC now owns 644 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 607 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Virtusa during the second quarter valued at approximately $42,000. Financial Gravity Wealth Inc. purchased a new position in shares of Virtusa during the second quarter valued at approximately $56,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Virtusa by 35.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,495 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.

NASDAQ:VRTU traded up $0.53 during mid-day trading on Friday, hitting $36.99. 382,498 shares of the company’s stock were exchanged, compared to its average volume of 249,460. Virtusa has a one year low of $31.99 and a one year high of $58.60. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.58 and a quick ratio of 2.58. The business has a fifty day moving average price of $41.41 and a 200 day moving average price of $47.58. The company has a market cap of $1.10 billion, a PE ratio of 25.34, a P/E/G ratio of 1.05 and a beta of 1.16.

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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