Virtusa Co. (VRTU) Expected to Announce Quarterly Sales of $277.15 Million
Wall Street brokerages forecast that Virtusa Co. (NASDAQ:VRTU) will report $277.15 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Virtusa’s earnings, with the highest sales estimate coming in at $277.94 million and the lowest estimate coming in at $275.80 million. Virtusa posted sales of $225.96 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.7%. The company is expected to report its next earnings results on Tuesday, May 15th.
On average, analysts expect that Virtusa will report full year sales of $277.15 million for the current year. For the next fiscal year, analysts forecast that the company will post sales of $1.14 billion per share, with estimates ranging from $1.13 billion to $1.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Virtusa.
Virtusa (NASDAQ:VRTU) last announced its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The company had revenue of $263.80 million for the quarter, compared to analyst estimates of $259.81 million. During the same period in the prior year, the business earned $0.37 earnings per share. Virtusa’s quarterly revenue was up 21.5% on a year-over-year basis.
In related news, CEO Kris A. Canekeratne sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $45.06, for a total value of $450,600.00. Following the transaction, the chief executive officer now directly owns 559,491 shares in the company, valued at $25,210,664.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $46.12, for a total transaction of $553,440.00. Following the completion of the transaction, the chief executive officer now owns 553,491 shares in the company, valued at $25,527,004.92. The disclosure for this sale can be found here. Insiders sold 83,075 shares of company stock worth $3,968,466 over the last 90 days. 5.96% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. We Are One Seven LLC bought a new stake in Virtusa in the fourth quarter valued at approximately $143,000. Pier Capital LLC bought a new stake in Virtusa in the fourth quarter valued at approximately $5,507,000. MetLife Investment Advisors LLC bought a new stake in Virtusa in the fourth quarter valued at approximately $519,000. Gotham Asset Management LLC bought a new stake in Virtusa in the fourth quarter valued at approximately $337,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Virtusa by 25.8% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 13,080 shares of the information technology services provider’s stock valued at $576,000 after purchasing an additional 2,680 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.
Virtusa (NASDAQ VRTU) opened at $51.50 on Wednesday. Virtusa has a 12-month low of $25.72 and a 12-month high of $52.88. The stock has a market cap of $1,520.00, a P/E ratio of 59.88, a PEG ratio of 2.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.24 and a current ratio of 4.24.
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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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