Virtusa (VRTU) Updates FY20 Earnings Guidance

Share on StockTwits

Virtusa (NASDAQ:VRTU) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.58-2.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.80. The company issued revenue guidance of $1.36-1.40 billion, compared to the consensus revenue estimate of $1.40 billion.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.

NASDAQ VRTU traded up $1.63 during mid-day trading on Wednesday, hitting $54.20. The stock had a trading volume of 72,163 shares, compared to its average volume of 112,224. Virtusa has a twelve month low of $37.80 and a twelve month high of $58.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $1.57 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.34 and a beta of 1.05.

VRTU has been the subject of several recent research reports. Zacks Investment Research raised Virtusa from a sell rating to a hold rating in a research note on Thursday, February 14th. Barrington Research reissued a buy rating and issued a $64.00 price objective on shares of Virtusa in a research note on Tuesday, January 29th. BidaskClub cut Virtusa from a buy rating to a hold rating in a report on Friday, February 15th. Finally, Cantor Fitzgerald restated a buy rating and issued a $62.00 target price on shares of Virtusa in a report on Friday, February 8th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $62.83.

In other news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $51.54, for a total transaction of $618,480.00. Following the completion of the transaction, the chief executive officer now directly owns 649,387 shares in the company, valued at approximately $33,469,405.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 10,160 shares of the 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 transaction, the chief executive officer now owns 635,547 shares of the company’s stock, valued at $32,412,897. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,175 shares of company stock valued at $8,295,869. 5.11% of the stock is owned by company insiders.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Macon Daily and is owned by of Macon Daily. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://macondaily.com/2019/05/15/virtusa-vrtu-updates-fy20-earnings-guidance.html.

About Virtusa

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: How do candlesticks reflect price movement?

Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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.