Virtusa (NASDAQ:VRTU) issued an update on its first quarter 2020 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.37-0.43 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61. The company issued revenue guidance of $313-321 million, compared to the consensus revenue estimate of $334.45 million.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.
NASDAQ:VRTU traded up $1.63 during mid-day trading on Wednesday, reaching $54.20. 72,163 shares of the company’s stock traded hands, compared to its average volume of 112,224. Virtusa has a 12-month low of $37.80 and a 12-month high of $58.60. The company has a market cap of $1.57 billion, a PE ratio of 60.90, a P/E/G ratio of 1.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.35.
A number of research analysts recently issued reports on VRTU shares. Barrington Research restated a buy rating and set a $64.00 price target on shares of Virtusa in a report on Tuesday, January 29th. BidaskClub downgraded Virtusa from a buy rating to a hold rating in a report on Tuesday, April 16th. Cantor Fitzgerald restated a buy rating and set a $62.00 price target on shares of Virtusa in a report on Friday, February 8th. Finally, Zacks Investment Research downgraded Virtusa from a buy rating to a hold rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $62.83.
In other Virtusa news, CEO Kris A. Canekeratne sold 62,175 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $51.19, for a total transaction of $3,182,738.25. Following the transaction, the chief executive officer now owns 683,292 shares in the company, valued at approximately $34,977,717.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $56.41, for a total value of $676,920.00. Following the transaction, the chief executive officer now owns 597,117 shares in the company, valued at approximately $33,683,369.97. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock worth $8,295,869 in the last quarter. Company insiders own 5.11% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.thelincolnianonline.com/2019/05/15/virtusa-vrtu-updates-q1-2020-earnings-guidance.html.
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 Article: What is systematic risk?
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.