$0.45 Earnings Per Share Expected for Virtusa Co. (VRTU) This Quarter

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Wall Street brokerages predict that Virtusa Co. (NASDAQ:VRTU) will announce earnings per share of $0.45 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Virtusa’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.34. Virtusa reported earnings per share of $0.25 during the same quarter last year, which suggests a positive year over year growth rate of 80%. The firm is scheduled to issue its next earnings report on Tuesday, August 14th.

On average, analysts expect that Virtusa will report full year earnings of $2.20 per share for the current year, with EPS estimates ranging from $2.16 to $2.21. For the next financial year, analysts forecast that the business will report earnings of $2.66 per share, with EPS estimates ranging from $2.59 to $2.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Virtusa.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, May 15th. The information technology services provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $281.30 million during the quarter, compared to the consensus estimate of $282.44 million. Virtusa had a return on equity of 5.94% and a net margin of 0.12%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS.

A number of research analysts have issued reports on VRTU shares. BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research downgraded Virtusa from a “hold” rating to a “sell” rating in a research note on Wednesday, May 16th. ValuEngine upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Wedbush downgraded Virtusa from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Tuesday, March 13th. Finally, Needham & Company LLC upped their price objective on Virtusa to $65.00 and gave the company a “buy” rating in a research note on Thursday, March 15th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $57.88.

Shares of Virtusa opened at $47.59 on Friday, Marketbeat.com reports. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 53.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.66. Virtusa has a 1 year low of $28.45 and a 1 year high of $54.21.

In other news, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $47.29, for a total transaction of $190,342.25. Following the transaction, the insider now owns 47,713 shares of the company’s stock, valued at approximately $2,256,347.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sundararajan Narayanan sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $53.42, for a total value of $106,840.00. Following the transaction, the executive vice president now directly owns 79,086 shares in the company, valued at approximately $4,224,774.12. The disclosure for this sale can be found here. Insiders have sold a total of 75,579 shares of company stock worth $3,730,739 in the last ninety days. Insiders own 5.96% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. lifted its position in shares of Virtusa by 9.5% during the 1st quarter. Citigroup Inc. now owns 12,112 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 1,053 shares during the last quarter. Rhumbline Advisers lifted its holdings in Virtusa by 1.8% during the 1st quarter. Rhumbline Advisers now owns 64,211 shares of the information technology services provider’s stock worth $3,112,000 after purchasing an additional 1,130 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Virtusa by 2.6% during the 4th quarter. Teachers Advisors LLC now owns 49,935 shares of the information technology services provider’s stock worth $2,201,000 after purchasing an additional 1,263 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Virtusa by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 248,677 shares of the information technology services provider’s stock worth $10,961,000 after purchasing an additional 1,425 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Virtusa by 4.1% during the 4th quarter. Swiss National Bank now owns 48,300 shares of the information technology services provider’s stock worth $2,129,000 after purchasing an additional 1,900 shares in the last quarter. 85.61% of the stock is currently owned by hedge funds and other institutional investors.

Virtusa Company Profile

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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