Virco Manufacturing (NASDAQ:VIRC) Announces Earnings Results, Misses Estimates By $0.19 EPS

by · The Cerbat Gem

Virco Manufacturing (NASDAQ:VIRC – Get Free Report) released its earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19), Zacks reports. Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%.

Virco Manufacturing Price Performance

Shares of VIRC opened at $5.68 on Wednesday. The business’s fifty day moving average is $6.05 and its 200 day moving average is $6.35. Virco Manufacturing has a 12-month low of $5.16 and a 12-month high of $9.09. The company has a quick ratio of 1.31, a current ratio of 3.09 and a debt-to-equity ratio of 0.03. The stock has a market cap of $89.27 million, a P/E ratio of 33.38 and a beta of 0.21.

Virco Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, March 20th. Virco Manufacturing’s dividend payout ratio (DPR) is currently 58.82%.

Insiders Place Their Bets

In other Virco Manufacturing news, EVP Douglas A. Virtue acquired 11,678 shares of the stock in a transaction on Wednesday, April 15th. The shares were purchased at an average price of $6.09 per share, for a total transaction of $71,119.02. Following the completion of the acquisition, the executive vice president owned 877,866 shares in the company, valued at approximately $5,346,203.94. This represents a 1.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 22,527 shares of company stock worth $135,562 in the last 90 days. Corporate insiders own 16.94% of the company’s stock.

Institutional Investors Weigh In On Virco Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Virco Manufacturing during the 3rd quarter valued at about $41,000. Barclays PLC raised its position in Virco Manufacturing by 16.4% in the fourth quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after acquiring an additional 2,495 shares during the period. Squarepoint Ops LLC purchased a new stake in Virco Manufacturing in the third quarter worth $158,000. Wells Fargo & Company MN lifted its position in shares of Virco Manufacturing by 18.2% during the 4th quarter. Wells Fargo & Company MN now owns 28,777 shares of the company’s stock valued at $184,000 after buying an additional 4,427 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Virco Manufacturing in the 1st quarter worth about $186,000. 30.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VIRC has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Freedom Capital upgraded shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Virco Manufacturing presently has an average rating of “Hold”.

View Our Latest Research Report on VIRC

Virco Manufacturing Company Profile

(Get Free Report)

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.

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