Virtusa (VRTU) Issues Q1 2020 Earnings Guidance

Virtusa (NASDAQ:VRTU) issued an update on its first quarter 2020 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.37-0.43 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.61. The company issued revenue guidance of $313-321 million, compared to the consensus revenue estimate of $334.45 million.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.

Shares of NASDAQ:VRTU traded up $1.63 during midday trading on Wednesday, reaching $54.20. The company had a trading volume of 107,219 shares, compared to its average volume of 112,224. 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. Virtusa has a 1-year low of $37.80 and a 1-year high of $58.60.

A number of equities analysts recently commented on VRTU shares. Zacks Investment Research upgraded Virtusa from a sell rating to a hold rating in a report on Thursday, February 14th. Barrington Research reiterated a buy rating and set a $64.00 price target on shares of Virtusa in a report 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 set a $62.00 price objective on shares of Virtusa in a report on Friday, February 8th. Two investment 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 price target of $62.83.

In related news, President Samir Dhir sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $54.99, for a total value of $219,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ranjan Kalia sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.05, for a total value of $45,945.00. Following the completion of the sale, the chief financial officer now owns 149,128 shares of the company’s stock, valued at $7,612,984.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,175 shares of company stock valued at $8,295,869. Corporate insiders own 5.11% of the company’s stock.

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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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