Brokerages Anticipate Virtusa Co. (NASDAQ:VRTU) to Announce $0.34 Earnings Per Share

Brokerages forecast that Virtusa Co. (NASDAQ:VRTU) will post $0.34 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Virtusa’s earnings. Virtusa also reported earnings of $0.34 per share during the same quarter last year. The business is scheduled to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Virtusa will report full year earnings of $1.93 per share for the current financial year. For the next year, analysts expect that the company will report earnings of $2.50 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Virtusa.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Virtusa had a net margin of 2.23% and a return on equity of 11.67%. The firm had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $317.59 million. During the same period in the previous year, the company earned $0.50 earnings per share. Virtusa’s quarterly revenue was up 6.3% compared to the same quarter last year.

A number of equities research analysts have recently commented on the stock. Needham & Company LLC cut shares of Virtusa from a “strong-buy” rating to a “buy” rating and reduced their target price for the company from $50.00 to $48.00 in a report on Tuesday, September 10th. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research cut shares of Virtusa from a “hold” rating to a “sell” rating in a report on Friday. TheStreet cut shares of Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $60.00 target price (down from $64.00) on shares of Virtusa in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $54.17.

In related news, CEO Kris A. Canekeratne sold 15,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $36.57, for a total transaction of $548,550.00. Following the completion of the transaction, the chief executive officer now directly owns 706,748 shares of the company’s stock, valued at $25,845,774.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $44.31, for a total transaction of $332,325.00. Following the transaction, the chief executive officer now directly owns 723,926 shares of the company’s stock, valued at $32,077,161.06. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $1,024,515 over the last ninety days. Corporate insiders own 4.73% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTU. Nuveen Asset Management LLC purchased a new position in Virtusa during the second quarter worth about $16,669,000. GW&K Investment Management LLC grew its position in Virtusa by 38.6% during the second quarter. GW&K Investment Management LLC now owns 805,998 shares of the information technology services provider’s stock worth $35,810,000 after buying an additional 224,654 shares during the period. Kennedy Capital Management Inc. acquired a new position in Virtusa during the first quarter worth about $8,441,000. Morgan Stanley grew its position in Virtusa by 948.2% during the second quarter. Morgan Stanley now owns 153,502 shares of the information technology services provider’s stock worth $6,820,000 after buying an additional 138,858 shares during the period. Finally, AMI Asset Management Corp grew its position in Virtusa by 48.7% during the second quarter. AMI Asset Management Corp now owns 336,948 shares of the information technology services provider’s stock worth $14,971,000 after buying an additional 110,391 shares during the period. 88.24% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:VRTU traded up $0.30 on Monday, reaching $39.93. The company’s stock had a trading volume of 3,995 shares, compared to its average volume of 245,300. The stock’s 50-day moving average is $38.79 and its two-hundred day moving average is $46.28. Virtusa has a 52-week low of $31.99 and a 52-week 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 stock has a market capitalization of $1.22 billion, a P/E ratio of 27.35, a PEG ratio of 1.16 and a beta of 1.20.

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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