Virtusa (VRTU) Updates Q3 2019 Earnings Guidance
Virtusa (NASDAQ:VRTU) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.56-0.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.59. The company issued revenue guidance of $308-316 million, compared to the consensus revenue estimate of $317.1 million.Virtusa also updated its FY 2019 guidance to $2.19-2.31 EPS.
Shares of NASDAQ VRTU traded down $0.78 during trading hours on Friday, reaching $48.77. 283,052 shares of the stock were exchanged, compared to its average volume of 138,088. The firm has a market cap of $1.47 billion, a P/E ratio of 54.80, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.68. Virtusa has a 52 week low of $39.77 and a 52 week high of $58.60.
Virtusa (NASDAQ:VRTU) last announced its earnings results on Thursday, November 8th. The information technology services provider reported $0.54 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.54. The company had revenue of $305.50 million for the quarter, compared to analyst estimates of $306.37 million. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Analysts forecast that Virtusa will post 1.59 EPS for the current year.
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. In the last 90 days, insiders have sold 11,000 shares of company stock worth $569,270. Corporate insiders own 5.11% of the company’s stock.
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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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