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

Virco Mfg. (NASDAQ:VIRC) released its quarterly earnings results on Monday. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%.

Shares of NASDAQ:VIRC traded down $0.03 during trading on Wednesday, reaching $3.50. 328 shares of the company’s stock traded hands, compared to its average volume of 33,213. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.02 and a quick ratio of 0.58. Virco Mfg. has a 12 month low of $1.94 and a 12 month high of $4.61. The company has a 50 day moving average of $3.52 and a 200-day moving average of $3.37. The stock has a market capitalization of $55.72 million, a P/E ratio of -39.11 and a beta of 1.36.

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

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

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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