Virtusa Co. (VRTU) Expected to Announce Earnings of $0.17 Per Share

Equities analysts predict that Virtusa Co. (NASDAQ:VRTU) will report earnings per share (EPS) of $0.17 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Virtusa’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.19. Virtusa reported earnings per share of ($0.01) during the same quarter last year, which indicates a positive year over year growth rate of 1,800%. The company is scheduled to announce its next earnings report on Tuesday, August 8th.

According to Zacks, analysts expect that Virtusa will report full-year earnings of $1.03 per share for the current financial year, with EPS estimates ranging from $1.02 to $1.05. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.41 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Virtusa.

Virtusa (NASDAQ:VRTU) last issued its earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $226 million during the quarter, compared to analyst estimates of $226.67 million. Virtusa had a net margin of 1.70% and a return on equity of 4.32%. Virtusa’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS.

A number of research analysts have weighed in on VRTU shares. Needham & Company LLC raised their price target on Virtusa from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Zacks Investment Research upgraded Virtusa from a “sell” rating to a “hold” rating in a research note on Saturday, February 18th. Wedbush lifted their price objective on Virtusa from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, March 3rd. Maxim Group cut Virtusa from a “buy” rating to a “hold” rating in a report on Thursday, March 9th. Finally, Cowen and Company raised Virtusa from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, March 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Virtusa currently has an average rating of “Buy” and an average price target of $34.43.

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Shares of Virtusa (NASDAQ VRTU) traded up 2.44% during trading on Tuesday, hitting $29.00. The stock had a trading volume of 449,317 shares. The company has a market capitalization of $873.45 million, a price-to-earnings ratio of 74.36 and a beta of 1.42. The firm has a 50 day moving average of $29.78 and a 200 day moving average of $27.88. Virtusa has a 1-year low of $18.03 and a 1-year high of $35.58.

In other news, COO Roger Keith Modder sold 24,242 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $29.10, for a total value of $705,442.20. Following the completion of the transaction, the chief operating officer now directly owns 191,423 shares of the company’s stock, valued at $5,570,409.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas R. Holler sold 29,873 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $28.00, for a total value of $836,444.00. Following the completion of the transaction, the executive vice president now directly owns 45,716 shares of the company’s stock, valued at $1,280,048. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in Virtusa during the fourth quarter valued at about $1,731,000. FIL Ltd raised its stake in Virtusa by 81.3% in the fourth quarter. FIL Ltd now owns 235,245 shares of the information technology services provider’s stock valued at $5,909,000 after buying an additional 105,502 shares in the last quarter. Clough Capital Partners L P acquired a new stake in Virtusa during the fourth quarter valued at about $5,509,000. Municipal Employees Retirement System of Michigan raised its stake in Virtusa by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,040 shares of the information technology services provider’s stock valued at $149,000 after buying an additional 100 shares in the last quarter. Finally, FMR LLC raised its stake in Virtusa by 0.3% in the fourth quarter. FMR LLC now owns 4,494,219 shares of the information technology services provider’s stock valued at $112,894,000 after buying an additional 13,963 shares in the last quarter. 93.20% of the stock is owned by institutional investors.

About Virtusa

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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