Virtusa (NASDAQ:VRTU) Issues Q2 Earnings Guidance

Virtusa (NASDAQ:VRTU) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.50 to $0.56 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.34. The company issued revenue guidance of $311 million to $319 million, compared to the consensus revenue estimate of $299.46 million.Virtusa also updated its Q2 2021
After-Hours guidance to 0.50-0.56 EPS.

Shares of NASDAQ VRTU traded up $5.33 during mid-day trading on Friday, reaching $40.60. 1,534,082 shares of the company were exchanged, compared to its average volume of 203,137. The company’s 50-day simple moving average is $31.91 and its 200-day simple moving average is $35.10. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $1.23 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.15 and a beta of 1.38. Virtusa has a twelve month low of $19.48 and a twelve month high of $52.81.

Virtusa (NASDAQ:VRTU) last issued its quarterly earnings data on Thursday, July 30th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $301.06 million during the quarter, compared to analysts’ expectations of $287.20 million. Virtusa had a net margin of 3.32% and a return on equity of 13.36%. As a group, equities research analysts expect that Virtusa will post 1.35 EPS for the current year.

Several brokerages have recently commented on VRTU. BidaskClub upgraded shares of Virtusa from a hold rating to a buy rating in a research report on Thursday. Needham & Company LLC lifted their price target on shares of Virtusa from $35.00 to $46.00 and gave the company a buy rating in a report on Friday. William Blair lowered shares of Virtusa from an outperform rating to a market perform rating in a report on Thursday, May 14th. Rosenblatt Securities lowered shares of Virtusa from a buy rating to a neutral rating in a report on Thursday, April 16th. Finally, Zacks Investment Research lowered shares of Virtusa from a hold rating to a sell rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $42.50.

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.

See Also: Buy-Side Analysts

Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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