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.
TRADEMARK VIOLATION NOTICE: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2019/05/15/virtusa-vrtu-issues-q1-2020-earnings-guidance.html.
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.
Further Reading: What is cost of equity?
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.