Virtusa Corporation (VRTU) to Release Earnings on Wednesday
Virtusa Corporation (NASDAQ:VRTU) will be posting its quarterly earnings results before the market opens on Wednesday, November 8th. Analysts expect Virtusa Corporation to post earnings of $0.36 per share for the quarter. Virtusa Corporation has set its Q2 guidance at $0.32-0.38 EPS and its FY18 guidance at $1.45-1.63 EPS.
Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.16 by $0.09. The firm had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.46 million. Virtusa Corporation had a return on equity of 4.26% and a net margin of 2.47%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. On average, analysts expect Virtusa Corporation to post $1.53 EPS for the current fiscal year and $1.98 EPS for the next fiscal year.
Virtusa Corporation (VRTU) opened at 38.16 on Wednesday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 55.22 and a beta of 1.67. Virtusa Corporation has a 12 month low of $18.03 and a 12 month high of $39.07. The stock’s 50 day moving average price is $37.42 and its 200 day moving average price is $33.14.
In related news, insider Raj Rajgopal sold 4,025 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.01, for a total value of $152,990.25. Following the completion of the sale, the insider now owns 108,576 shares in the company, valued at $4,126,973.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $37.96, for a total value of $835,120.00. Following the completion of the sale, the chief executive officer now owns 577,491 shares of the company’s stock, valued at approximately $21,921,558.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,852 shares of company stock worth $3,975,663. Insiders own 5.96% of the company’s stock.
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Several equities research analysts have weighed in on VRTU shares. BidaskClub cut Virtusa Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research raised Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, July 19th. Cowen and Company reissued a “buy” rating and set a $36.00 price objective on shares of Virtusa Corporation in a research note on Friday, July 28th. Maxim Group reissued a “hold” rating on shares of Virtusa Corporation in a research note on Tuesday, August 8th. Finally, Barrington Research boosted their price objective on Virtusa Corporation from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.13.
About Virtusa Corporation
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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