Virtusa (NASDAQ:VRTU) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Virtusa (NASDAQ:VRTU) released its quarterly earnings results on Thursday. The information technology services provider reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06, MarketWatch Earnings reports. The business had revenue of $301.06 million for the quarter, compared to the consensus estimate of $287.20 million. Virtusa had a net margin of 3.32% and a return on equity of 13.36%. Virtusa updated its Q2 2021
After-Hours guidance to 0.50-0.56 EPS and its Q2 guidance to $0.50 to $0.56 EPS.
NASDAQ:VRTU traded up $5.33 during mid-day trading on Friday, hitting $40.60. 1,534,082 shares of the company’s stock were exchanged, compared to its average volume of 203,137. The company has a 50 day simple moving average of $31.91 and a 200-day simple moving average of $35.10. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 1.31. Virtusa has a fifty-two week low of $19.48 and a fifty-two week high of $52.81. The firm has a market capitalization of $1.07 billion, a P/E ratio of 33.01, a PEG ratio of 1.87 and a beta of 1.38.
A number of brokerages have issued reports on VRTU. Barrington Research reiterated a “buy” rating and set a $38.00 price objective on shares of Virtusa in a research note on Thursday, May 14th. BidaskClub upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday. Rosenblatt Securities downgraded shares of Virtusa from a “buy” rating to a “neutral” rating in a research note on Thursday, April 16th. Needham & Company LLC raised their price target on shares of Virtusa from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Finally, William Blair downgraded shares of Virtusa from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.50.
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.
Featured Story: Trading Options- What is a Strangle?
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.