Virco Mfg. (NASDAQ:VIRC) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Virco Mfg. (NASDAQ:VIRC) issued its quarterly earnings results on Monday. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.06), Fidelity Earnings reports. Virco Mfg. had a negative return on equity of 2.63% and a negative net margin of 0.89%.

VIRC opened at $3.52 on Wednesday. The firm has a market capitalization of $56.03 million, a P/E ratio of -39.11 and a beta of 1.36. The stock has a fifty day moving average of $3.52 and a 200-day moving average of $3.37. The company has a quick ratio of 0.58, a current ratio of 2.02 and a debt-to-equity ratio of 0.29. Virco Mfg. has a 12-month low of $1.94 and a 12-month high of $4.61.

Several equities research analysts have recently commented on the company. TheStreet raised Virco Mfg. from a “d+” rating to a “c” rating in a report on Monday, June 14th. Zacks Investment Research upgraded shares of Virco Mfg. from a “sell” rating to a “hold” rating in a report on Tuesday, August 17th.

An institutional investor recently raised its position in Virco Mfg. stock. Morgan Stanley increased its holdings in Virco Mfg. Co. (NASDAQ:VIRC) by 2,140,000.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,401 shares of the company’s stock after acquiring an additional 21,400 shares during the period. Morgan Stanley owned about 0.13% of Virco Mfg. worth $73,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.53% of the company’s stock.

About Virco Mfg.

Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.

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Earnings History for Virco Mfg. (NASDAQ:VIRC)

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