Brokerages Anticipate Virtusa Co. (NASDAQ:VRTU) Will Announce Earnings of $0.40 Per Share

Equities analysts predict that Virtusa Co. (NASDAQ:VRTU) will announce earnings per share (EPS) of $0.40 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Virtusa’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.39. Virtusa posted earnings of $0.50 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 20%. The company is expected to report its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Virtusa will report full-year earnings of $2.68 per share for the current financial year, with EPS estimates ranging from $2.64 to $2.70. For the next fiscal year, analysts forecast that the firm will report earnings of $3.28 per share, with EPS estimates ranging from $3.18 to $3.34. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Virtusa.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, May 15th. The information technology services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). Virtusa had a return on equity of 11.81% and a net margin of 1.29%. The firm had revenue of $327.60 million for the quarter, compared to analysts’ expectations of $330.91 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis.

Several research firms have recently commented on VRTU. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Friday, April 12th. BidaskClub lowered Virtusa from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Barrington Research restated a “buy” rating and set a $64.00 price target on shares of Virtusa in a research report on Friday, May 10th. Needham & Company LLC restated a “strong-buy” rating and set a $60.00 price target on shares of Virtusa in a research report on Thursday, May 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $56.00 price target (down from $62.00) on shares of Virtusa in a research report on Thursday, May 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $56.83.

In other news, President Samir Dhir sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $54.99, for a total value of $219,960.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Doody acquired 5,000 shares of Virtusa stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $42.50 per share, for a total transaction of $212,500.00. Following the completion of 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. Over the last quarter, insiders sold 65,000 shares of company stock worth $3,477,000. Insiders own 5.11% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in VRTU. Macquarie Group Ltd. raised its stake in shares of Virtusa by 50.0% in the fourth quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Virtusa in the fourth quarter valued at $43,000. Advisor Group Inc. raised its stake in shares of Virtusa by 44.8% in the first quarter. Advisor Group Inc. now owns 908 shares of the information technology services provider’s stock valued at $49,000 after acquiring an additional 281 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of Virtusa in the fourth quarter valued at $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Virtusa by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock valued at $79,000 after buying an additional 603 shares in the last quarter. Institutional investors and hedge funds own 87.73% of the company’s stock.

Shares of VRTU traded down $1.06 during midday trading on Tuesday, hitting $43.16. 105,516 shares of the stock were exchanged, compared to its average volume of 162,333. Virtusa has a 52-week low of $37.80 and a 52-week high of $58.60. The firm has a market cap of $1.30 billion, a P/E ratio of 29.56, a P/E/G ratio of 1.07 and a beta of 1.23. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.90.

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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