Brokerages Expect Virtusa Co. (VRTU) to Announce $0.55 Earnings Per Share

Wall Street brokerages predict that Virtusa Co. (NASDAQ:VRTU) will announce $0.55 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Virtusa’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.56. Virtusa posted earnings per share of $0.43 during the same quarter last year, which suggests a positive year-over-year growth rate of 27.9%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 15th.

On average, analysts expect that Virtusa will report full year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.64. For the next year, analysts expect that the business will report earnings of $2.18 per share, with EPS estimates ranging from $2.08 to $2.37. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Virtusa.

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Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The firm had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. During the same period last year, the company earned $0.37 earnings per share. The company’s revenue was up 21.5% on a year-over-year basis.

Several brokerages have recently weighed in on VRTU. Wedbush downgraded Virtusa from an “outperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $60.00 in a report on Tuesday, March 13th. Cantor Fitzgerald restated a “buy” rating and set a $60.00 price target (up from $52.00) on shares of Virtusa in a report on Tuesday, March 13th. Barrington Research set a $55.00 price target on Virtusa and gave the company a “buy” rating in a report on Tuesday, March 13th. Maxim Group raised their price target on Virtusa to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 14th. Finally, Needham & Company LLC raised their price target on Virtusa to $65.00 and gave the company a “buy” rating in a report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $57.88.

Shares of NASDAQ:VRTU opened at $48.46 on Thursday. Virtusa has a 1-year low of $25.72 and a 1-year high of $52.88. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1,426.18, a PE ratio of 72.33, a P/E/G ratio of 2.44 and a beta of 1.35.

In related news, CEO Kris A. Canekeratne sold 10,000 shares of Virtusa stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $45.06, for a total value of $450,600.00. Following the completion of the sale, the chief executive officer now directly owns 559,491 shares in the company, valued at approximately $25,210,664.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Raj Rajgopal sold 41,108 shares of Virtusa stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $49.36, for a total value of $2,029,090.88. Following the completion of the sale, the insider now owns 86,661 shares of the company’s stock, valued at $4,277,586.96. The disclosure for this sale can be found here. Insiders sold a total of 168,027 shares of company stock valued at $8,204,664 over the last quarter. 5.96% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. We Are One Seven LLC bought a new stake in Virtusa in the 4th quarter worth about $143,000. Pier Capital LLC purchased a new position in Virtusa in the fourth quarter worth about $5,507,000. MetLife Investment Advisors LLC purchased a new position in Virtusa in the fourth quarter worth about $519,000. Gotham Asset Management LLC purchased a new position in Virtusa in the fourth quarter worth about $337,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in Virtusa by 25.8% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 13,080 shares of the information technology services provider’s stock worth $576,000 after purchasing an additional 2,680 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

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Virtusa Company Profile

Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting, digital enablement services, user experience (UX) design, development of IT applications, maintenance and support services, systems integration, infrastructure and managed services.

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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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