Analysts Expect Virtus Investment Partners Inc (NASDAQ:VRTS) to Post $3.99 Earnings Per Share

Brokerages expect that Virtus Investment Partners Inc (NASDAQ:VRTS) will announce $3.99 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Virtus Investment Partners’ earnings, with estimates ranging from $3.94 to $4.04. Virtus Investment Partners reported earnings of $3.06 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 30.4%. The firm is expected to announce its next earnings results on Friday, February 7th.

According to Zacks, analysts expect that Virtus Investment Partners will report full-year earnings of $14.37 per share for the current financial year, with EPS estimates ranging from $14.33 to $14.41. For the next fiscal year, analysts forecast that the business will report earnings of $15.08 per share, with EPS estimates ranging from $14.76 to $15.40. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Virtus Investment Partners.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, October 25th. The closed-end fund reported $4.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.34. Virtus Investment Partners had a net margin of 13.49% and a return on equity of 21.89%. The business had revenue of $146.00 million for the quarter, compared to analyst estimates of $146.51 million. During the same period in the previous year, the business posted $3.93 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year.

VRTS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a research note on Sunday, November 3rd. BidaskClub upgraded shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Barclays reiterated a “hold” rating and set a $105.00 price target on shares of Virtus Investment Partners in a research note on Wednesday, October 9th. Morgan Stanley dropped their price target on shares of Virtus Investment Partners from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Finally, ValuEngine lowered shares of Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $108.33.

Shares of Virtus Investment Partners stock traded down $2.41 on Thursday, reaching $117.22. 63,669 shares of the stock were exchanged, compared to its average volume of 71,050. Virtus Investment Partners has a 1-year low of $70.00 and a 1-year high of $126.55. The business has a fifty day moving average price of $113.04 and a two-hundred day moving average price of $107.58. The firm has a market capitalization of $821.30 million, a PE ratio of 9.54, a PEG ratio of 1.25 and a beta of 1.60.

Institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of Virtus Investment Partners in the second quarter worth approximately $34,000. Meeder Asset Management Inc. acquired a new stake in Virtus Investment Partners in the third quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. acquired a new stake in Virtus Investment Partners in the second quarter valued at approximately $64,000. Bank of Montreal Can lifted its stake in Virtus Investment Partners by 327.5% in the second quarter. Bank of Montreal Can now owns 731 shares of the closed-end fund’s stock valued at $78,000 after acquiring an additional 560 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Virtus Investment Partners in the third quarter valued at approximately $127,000. 88.93% of the stock is currently owned by institutional investors and hedge funds.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

Read More: Blue-Chip Stocks

Get a free copy of the Zacks research report on Virtus Investment Partners (VRTS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.