Virtusa (VRTU) to Release Quarterly Earnings on Thursday

Virtusa (NASDAQ:VRTU) is scheduled to announce its earnings results after the market closes on Thursday, August 8th. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Wednesday, May 15th. The information technology services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.06). Virtusa had a net margin of 1.29% and a return on equity of 11.81%. The firm had revenue of $327.60 million during the quarter, compared to the consensus estimate of $330.91 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. On average, analysts expect Virtusa to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of VRTU opened at $42.12 on Wednesday. Virtusa has a 52 week low of $37.80 and a 52 week high of $58.60. The company has a market cap of $1.46 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average price of $44.25.

A number of brokerages have recently commented on VRTU. Needham & Company LLC reiterated a “strong-buy” rating and issued a $60.00 price target on shares of Virtusa in a research note on Thursday, May 16th. Wedbush reiterated an “outperform” rating and issued a $60.00 price target (down from $70.00) on shares of Virtusa in a research note on Thursday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $56.00 price target (down from $62.00) on shares of Virtusa in a research note on Thursday, May 16th. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, May 22nd. Finally, ValuEngine upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.83.

In related news, Director Joseph Doody acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average cost of $42.50 per share, for a total transaction of $212,500.00. Following the completion of the acquisition, the director now directly owns 14,684 shares of the company’s stock, valued at approximately $624,070. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $44.19, for a total value of $331,425.00. Following the completion of the sale, the chief executive officer now owns 723,926 shares of the company’s stock, valued at $31,990,289.94. The disclosure for this sale can be found here. Corporate insiders own 4.73% of the company’s stock.

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 for Virtusa (NASDAQ:VRTU)

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