Analysts expect that Virtusa Co. (NASDAQ:VRTU) will report sales of $259.29 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Virtusa’s earnings. The highest sales estimate is $260.25 million and the lowest is $258.48 million. Virtusa posted sales of $217.21 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.4%. The business is expected to issue its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Virtusa will report full-year sales of $259.29 million for the current year, with estimates ranging from $998.35 million to $1.01 billion. For the next financial year, analysts forecast that the company will post sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Virtusa.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The business had revenue of $248.20 million during the quarter, compared to the consensus estimate of $237.48 million. During the same quarter last year, the firm posted $0.27 EPS. Virtusa’s revenue was up 18.1% compared to the same quarter last year.
In other news, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction on Friday, January 19th. The stock was sold at an average price of $47.70, for a total transaction of $572,400.00. Following the sale, the chief executive officer now directly owns 541,491 shares in the company, valued at approximately $25,829,120.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 10,000 shares of Virtusa stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $45.06, for a total value of $450,600.00. Following the sale, the chief executive officer now owns 559,491 shares in the company, valued at $25,210,664.46. The disclosure for this sale can be found here. Insiders have sold a total of 89,580 shares of company stock worth $4,095,604 over the last quarter. Company insiders own 5.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. raised its stake in Virtusa by 14.4% in the 2nd quarter. Citigroup Inc. now owns 29,400 shares of the information technology services provider’s stock valued at $864,000 after acquiring an additional 3,711 shares during the period. Vanguard Group Inc. raised its stake in Virtusa by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after acquiring an additional 119,133 shares during the period. State Street Corp raised its stake in Virtusa by 4.0% in the 2nd quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock valued at $19,774,000 after acquiring an additional 25,883 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Virtusa by 4.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 928,500 shares of the information technology services provider’s stock valued at $35,078,000 after acquiring an additional 40,850 shares during the period. Finally, Peregrine Capital Management LLC bought a new stake in Virtusa in the 3rd quarter valued at about $9,115,000. Institutional investors and hedge funds own 88.00% of the company’s stock.
Virtusa (VRTU) opened at $48.01 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03. Virtusa has a 52 week low of $24.84 and a 52 week high of $48.71. The firm has a market capitalization of $1,410.00, a price-to-earnings ratio of 67.62, a price-to-earnings-growth ratio of 2.31 and a beta of 1.72.
ILLEGAL ACTIVITY WARNING: “Virtusa Co. (VRTU) Expected to Announce Quarterly Sales of $259.29 Million” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/22/virtusa-co-vrtu-expected-to-announce-quarterly-sales-of-259-29-million.html.
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.
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.