Virtusa (VRTU) Issues Q3 2019 Earnings Guidance

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Virtusa (NASDAQ:VRTU) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $0.56-0.62 for the period, compared to the Thomson Reuters consensus EPS 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 VRTU traded down $0.78 during trading hours on Friday, hitting $48.77. 283,052 shares of the company were exchanged, compared to its average volume of 180,520. The firm has a market cap of $1.43 billion, a PE ratio of 54.80, a P/E/G ratio of 1.51 and a beta of 1.23. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.68. Virtusa has a one year low of $39.77 and a one year high of $58.60.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Thursday, November 8th. The information technology services provider reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $305.50 million during 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 company’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. On average, equities research analysts anticipate that Virtusa will post 1.59 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on VRTU shares. Zacks Investment Research lowered Virtusa from a buy rating to a hold rating in a research note on Tuesday, September 11th. SunTrust Banks raised their price objective on Virtusa to $56.00 and gave the stock a hold rating in a research note on Monday, August 13th. 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. 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. Finally, Needham & Company LLC raised their target price on Virtusa from $65.00 to $68.00 and gave the stock a strong-buy rating in a research report on Thursday, August 9th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $62.00.

In related news, CEO Kris A. Canekeratne sold 3,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $53.17, for a total transaction of $159,510.00. Following the completion of the sale, the chief executive officer now directly owns 722,691 shares in the company, valued at $38,425,480.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Samir Dhir sold 4,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $52.89, for a total value of $211,560.00. Following the sale, the president now owns 129,045 shares of the company’s stock, valued at $6,825,190.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,000 shares of company stock valued at $569,270. 5.11% of the stock is currently owned by insiders.

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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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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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