Virtus Investment Partners Inc (VRTS) Expected to Post Earnings of $2.02 Per Share

Wall Street brokerages expect Virtus Investment Partners Inc (NASDAQ:VRTS) to post earnings of $2.02 per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Virtus Investment Partners’ earnings, with the lowest EPS estimate coming in at $1.86 and the highest estimate coming in at $2.17. Virtus Investment Partners posted earnings per share of $2.59 during the same quarter last year, which would indicate a negative year-over-year growth rate of 22%. The company is expected to announce its next earnings report on Friday, April 26th.

According to Zacks, analysts expect that Virtus Investment Partners will report full year earnings of $10.34 per share for the current fiscal year, with EPS estimates ranging from $10.31 to $10.36. For the next financial year, analysts expect that the business will post earnings of $10.97 per share, with EPS estimates ranging from $9.87 to $12.07. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Virtus Investment Partners.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, February 1st. The closed-end fund reported $3.06 earnings per share for the quarter, meeting the consensus estimate of $3.06. The firm had revenue of $138.10 million during the quarter, compared to the consensus estimate of $143.54 million. Virtus Investment Partners had a return on equity of 19.83% and a net margin of 13.68%. Virtus Investment Partners’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $2.60 EPS.

A number of equities research analysts have commented on the company. ValuEngine upgraded Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. BidaskClub upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Barclays raised their price objective on Virtus Investment Partners from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 19th. Morgan Stanley set a $92.00 price objective on Virtus Investment Partners and gave the stock a “hold” rating in a report on Friday, February 8th. Finally, Bank of America restated a “neutral” rating and set a $100.00 price objective (down previously from $115.00) on shares of Virtus Investment Partners in a report on Thursday, December 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $103.33.

Institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new position in shares of Virtus Investment Partners in the 4th quarter worth $28,000. Public Employees Retirement System of Ohio raised its position in Virtus Investment Partners by 67.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 370 shares of the closed-end fund’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Neuburgh Advisers LLC raised its position in Virtus Investment Partners by 14.8% in the fourth quarter. Neuburgh Advisers LLC now owns 992 shares of the closed-end fund’s stock valued at $79,000 after purchasing an additional 128 shares during the period. Penserra Capital Management LLC raised its position in Virtus Investment Partners by 29.3% in the fourth quarter. Penserra Capital Management LLC now owns 1,272 shares of the closed-end fund’s stock valued at $101,000 after purchasing an additional 288 shares during the period. Finally, Capital Fund Management S.A. purchased a new position in Virtus Investment Partners in the third quarter valued at about $228,000. 97.10% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:VRTS traded down $0.84 during trading hours on Friday, reaching $97.55. 74,947 shares of the company traded hands, compared to its average volume of 79,763. The stock has a market cap of $689.06 million, a PE ratio of 7.96, a price-to-earnings-growth ratio of 0.57 and a beta of 1.53. The company has a debt-to-equity ratio of 0.62, a quick ratio of 16.69 and a current ratio of 16.69. Virtus Investment Partners has a 1-year low of $70.00 and a 1-year high of $138.02.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 17.94%.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

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