Virco Mfg. (NASDAQ:VIRC) Releases Earnings Results, Beats Expectations By $0.26 EPS

Virco Mfg. (NASDAQ:VIRCGet Free Report) issued its quarterly earnings results on Friday. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.26, Zacks reports. The business had revenue of $46.74 million during the quarter, compared to analyst estimates of $37.70 million. Virco Mfg. had a net margin of 9.07% and a return on equity of 28.61%.

Virco Mfg. Price Performance

VIRC opened at $13.19 on Monday. The company has a fifty day moving average price of $11.54 and a two-hundred day moving average price of $10.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 2.31. Virco Mfg. has a 52 week low of $3.70 and a 52 week high of $13.37. The firm has a market capitalization of $215.66 million, a PE ratio of 8.46 and a beta of 0.67.

Virco Mfg. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, June 21st. Virco Mfg.’s dividend payout ratio is presently 5.13%.

Analyst Ratings Changes

A number of brokerages recently weighed in on VIRC. TheStreet raised shares of Virco Mfg. from a “c” rating to a “b” rating in a report on Wednesday, February 14th. Wedbush reaffirmed an “outperform” rating and set a $19.00 target price (up previously from $16.00) on shares of Virco Mfg. in a report on Friday.

Read Our Latest Stock Report on Virco Mfg.

Virco Mfg. Company Profile

(Get Free Report)

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.

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Earnings History for Virco Mfg. (NASDAQ:VIRC)

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