Analysts forecast that Virtusa Co. (NASDAQ:VRTU) will report earnings of $0.53 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Virtusa’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.52. Virtusa reported earnings of $0.54 per share in the same quarter last year, which would indicate a negative year over year growth rate of 1.9%. The firm is expected to issue its next earnings results on Thursday, November 5th.
According to Zacks, analysts expect that Virtusa will report full year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.22. For the next fiscal year, analysts anticipate that the company will report earnings of $2.51 per share, with EPS estimates ranging from $2.19 to $2.78. Zacks’ EPS averages are an average based on a survey of analysts that follow Virtusa.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings data on Thursday, July 30th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The business had revenue of $301.06 million for the quarter, compared to analysts’ expectations of $287.20 million. Virtusa had a return on equity of 13.33% and a net margin of 3.32%.
VRTU has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Virtusa from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday. William Blair downgraded Virtusa from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 14th. Zacks Investment Research raised Virtusa from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research report on Thursday, August 6th. BidaskClub raised Virtusa from a “hold” rating to a “buy” rating in a research report on Thursday, July 30th. Finally, Barrington Research boosted their target price on Virtusa from $38.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.67.
Shares of VRTU opened at $40.32 on Tuesday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 1.60 and a beta of 1.46. Virtusa has a 1 year low of $19.48 and a 1 year high of $52.81. The business’s 50 day simple moving average is $34.86 and its 200-day simple moving average is $34.88. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.65 and a quick ratio of 2.65.
A number of institutional investors have recently made changes to their positions in the business. New Mountain Vantage Advisers L.L.C. grew its position in Virtusa by 753.8% in the 1st quarter. New Mountain Vantage Advisers L.L.C. now owns 1,444,023 shares of the information technology services provider’s stock valued at $41,010,000 after acquiring an additional 1,274,898 shares during the last quarter. State Street Corp grew its position in Virtusa by 9.2% in the 1st quarter. State Street Corp now owns 941,963 shares of the information technology services provider’s stock valued at $26,752,000 after acquiring an additional 79,192 shares during the last quarter. Royal Bank of Canada grew its position in Virtusa by 23.8% in the 1st quarter. Royal Bank of Canada now owns 644,978 shares of the information technology services provider’s stock valued at $18,316,000 after acquiring an additional 123,964 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Virtusa by 452.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 617,478 shares of the information technology services provider’s stock valued at $20,050,000 after acquiring an additional 505,746 shares during the last quarter. Finally, Morgan Stanley grew its position in Virtusa by 210.0% in the 1st quarter. Morgan Stanley now owns 443,075 shares of the information technology services provider’s stock valued at $12,584,000 after acquiring an additional 300,146 shares during the last quarter. 92.94% of the stock is currently owned by 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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