Wall Street analysts expect that Virtusa Co. (NASDAQ:VRTU) will announce $330.12 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Virtusa’s earnings, with the lowest sales estimate coming in at $329.40 million and the highest estimate coming in at $330.75 million. Virtusa posted sales of $281.34 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.3%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 21st.
According to Zacks, analysts expect that Virtusa will report full-year sales of $1.25 billion for the current financial year. For the next year, analysts forecast that the business will report sales of $1.39 billion, with estimates ranging from $1.38 billion to $1.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Virtusa.
Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Thursday, February 7th. The information technology services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.19. Virtusa had a return on equity of 11.39% and a net margin of 0.89%. The company had revenue of $314.68 million for the quarter, compared to analyst estimates of $313.32 million. During the same period in the previous year, the company posted $0.47 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis.
Several research firms have commented on VRTU. ValuEngine downgraded Virtusa from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. BidaskClub raised Virtusa from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. Zacks Investment Research raised Virtusa from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Finally, Barrington Research reissued a “buy” rating and issued a $64.00 target price on shares of Virtusa in a report on Tuesday, January 29th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $61.29.
In other Virtusa news, CEO Kris A. Canekeratne sold 1,480 shares of the business’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $41.16, for a total value of $60,916.80. Following the sale, the chief executive officer now directly owns 683,907 shares of the company’s stock, valued at $28,149,612.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kris A. Canekeratne sold 10,160 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $51.00, for a total value of $518,160.00. Following the completion of the sale, the chief executive officer now directly owns 635,547 shares in the company, valued at $32,412,897. The disclosure for this sale can be found here. Insiders sold 157,714 shares of company stock worth $7,673,764 over the last three months. Corporate insiders own 5.11% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Virtusa by 1.6% in the third quarter. BlackRock Inc. now owns 3,950,331 shares of the information technology services provider’s stock worth $212,173,000 after purchasing an additional 64,070 shares during the last quarter. FMR LLC raised its stake in shares of Virtusa by 12.2% in the third quarter. FMR LLC now owns 2,868,364 shares of the information technology services provider’s stock worth $154,060,000 after purchasing an additional 310,939 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Virtusa by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,352,310 shares of the information technology services provider’s stock worth $126,343,000 after purchasing an additional 55,460 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Virtusa by 2.4% in the third quarter. Vanguard Group Inc now owns 2,352,310 shares of the information technology services provider’s stock worth $126,343,000 after purchasing an additional 55,460 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in shares of Virtusa by 8.7% in the third quarter. Frontier Capital Management Co. LLC now owns 1,041,431 shares of the information technology services provider’s stock worth $55,935,000 after purchasing an additional 83,431 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ VRTU opened at $50.93 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.35 and a current ratio of 2.35. Virtusa has a twelve month low of $37.80 and a twelve month high of $58.60. The company has a market cap of $1.53 billion, a P/E ratio of 57.22, a PEG ratio of 1.59 and a beta of 1.05.
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.
Featured Story: Balance Sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Virtusa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa and related companies with MarketBeat.com's FREE daily email newsletter.