Virtusa Co. (NASDAQ:VRTU) Expected to Post Quarterly Sales of $317.38 Million

Equities research analysts predict that Virtusa Co. (NASDAQ:VRTU) will report sales of $317.38 million for the current quarter, according to Zacks. Four analysts have made estimates for Virtusa’s earnings, with the highest sales estimate coming in at $318.03 million and the lowest estimate coming in at $317.00 million. Virtusa reported sales of $300.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The firm is expected to announce its next earnings report after the market closes on Thursday, August 8th.

On average, analysts expect that Virtusa will report full year sales of $1.37 billion for the current year, with estimates ranging from $1.36 billion to $1.38 billion. For the next financial year, analysts expect that the business will post sales of $1.52 billion, with estimates ranging from $1.50 billion to $1.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Virtusa.

Virtusa (NASDAQ:VRTU) last released its earnings results on Wednesday, May 15th. The information technology services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $327.60 million during the quarter, compared to the consensus estimate of $330.91 million. During the same period last year, the firm posted $0.55 earnings per share. The company’s revenue was up 16.5% compared to the same quarter last year.

Several equities research analysts have commented on the company. Barrington Research reissued a “buy” rating and issued a $64.00 target price on shares of Virtusa in a report on Friday, May 10th. TheStreet downgraded Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. Wedbush reissued an “outperform” rating and issued a $60.00 target price (down from $70.00) on shares of Virtusa in a report on Thursday, May 16th. Needham & Company LLC reissued a “strong-buy” rating and issued a $60.00 target price on shares of Virtusa in a report on Thursday, May 16th. Finally, ValuEngine raised Virtusa from a “hold” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Virtusa has a consensus rating of “Buy” and a consensus target price of $56.83.

Virtusa stock traded down $0.84 during mid-day trading on Friday, hitting $43.99. The company had a trading volume of 84,875 shares, compared to its average volume of 120,097. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.90. The business has a 50 day simple moving average of $44.28. Virtusa has a 12 month low of $37.80 and a 12 month high of $58.60. The company has a market capitalization of $1.49 billion, a P/E ratio of 30.13, a PEG ratio of 1.12 and a beta of 1.16.

In other Virtusa news, Director Joseph Doody purchased 5,000 shares of the firm’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 completion of the purchase, the director now directly owns 14,684 shares of the company’s stock, valued at $624,070. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 7,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $44.31, for a total value of $332,325.00. Following the completion of the transaction, the chief executive officer now owns 723,926 shares of the company’s stock, valued at approximately $32,077,161.06. The disclosure for this sale can be found here. 5.11% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of VRTU. Norges Bank purchased a new stake in Virtusa during the fourth quarter valued at $15,553,000. Kennedy Capital Management Inc. purchased a new stake in Virtusa during the first quarter valued at $8,441,000. Pier Capital LLC purchased a new stake in Virtusa during the first quarter valued at $7,264,000. FMR LLC increased its position in Virtusa by 2.9% during the first quarter. FMR LLC now owns 2,991,604 shares of the information technology services provider’s stock valued at $159,901,000 after acquiring an additional 83,217 shares during the last quarter. Finally, Hillcrest Asset Management LLC increased its position in Virtusa by 35.0% during the first quarter. Hillcrest Asset Management LLC now owns 281,541 shares of the information technology services provider’s stock valued at $15,048,000 after acquiring an additional 73,063 shares during the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

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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