$306.52 Million in Sales Expected for Virtusa Co. (VRTU) This Quarter

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Analysts predict that Virtusa Co. (NASDAQ:VRTU) will post sales of $306.52 million for the current quarter, according to Zacks. Five analysts have issued estimates for Virtusa’s earnings. The highest sales estimate is $307.74 million and the lowest is $304.77 million. Virtusa posted sales of $248.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.5%. The firm is expected to report its next earnings report after the market closes on Thursday, November 8th.

On average, analysts expect that Virtusa will report full-year sales of $1.25 billion for the current fiscal year. For the next year, analysts anticipate that the company will post sales of $1.39 billion, with estimates ranging from $1.38 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Virtusa.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The business had revenue of $300.00 million during the quarter, compared to analysts’ expectations of $298.00 million. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. The firm’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS.

A number of research firms have commented on VRTU. Barrington Research set a $64.00 price objective on Virtusa and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald raised their price objective on Virtusa from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Needham & Company LLC raised their price objective on Virtusa from $65.00 to $68.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 9th. BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Friday, July 13th. Finally, Wedbush raised their price objective on Virtusa from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, August 31st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.00.

Virtusa stock traded up $0.76 during mid-day trading on Wednesday, reaching $49.01. 23 shares of the company were exchanged, compared to its average volume of 142,784. Virtusa has a 12 month low of $34.79 and a 12 month high of $58.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market cap of $1.50 billion, a PE ratio of 55.01, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25.

In other news, CEO Kris A. Canekeratne sold 3,000 shares of Virtusa stock in a transaction on Friday, August 17th. The stock was sold at an average price of $53.17, for a total value of $159,510.00. Following the transaction, the chief executive officer now owns 722,691 shares in the company, valued at approximately $38,425,480.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Samir Dhir sold 4,000 shares of Virtusa stock in a transaction on Monday, August 13th. The shares were sold at an average price of $52.89, for a total value of $211,560.00. Following the completion of the transaction, the president now owns 129,045 shares in the company, valued at approximately $6,825,190.05. The disclosure for this sale can be found here. Company insiders own 5.11% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC bought a new stake in Virtusa during the 1st quarter worth $219,000. Amalgamated Bank bought a new stake in Virtusa during the 2nd quarter worth $223,000. Cambridge Investment Research Advisors Inc. acquired a new position in Virtusa during the 2nd quarter worth about $229,000. Xact Kapitalforvaltning AB acquired a new position in Virtusa during the 1st quarter worth about $235,000. Finally, PEAK6 Investments L.P. acquired a new position in Virtusa during the 2nd quarter worth about $240,000. Institutional investors own 86.94% of the company’s stock.

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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