Virco Mfg. (NASDAQ:VIRC) Issues Earnings Results, Misses Estimates By $0.35 EPS

Virco Mfg. (NASDAQ:VIRC) released its quarterly earnings data on Monday. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35), Zacks reports. Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. During the same quarter last year, the firm posted $0.62 EPS.

Virco Mfg. Stock Performance

Shares of Virco Mfg. stock opened at $12.53 on Wednesday. The firm’s fifty day simple moving average is $14.93 and its 200-day simple moving average is $14.89. Virco Mfg. has a 12 month low of $8.28 and a 12 month high of $18.50. The stock has a market capitalization of $204.03 million, a price-to-earnings ratio of 7.59 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.26 and a quick ratio of 1.20.

Virco Mfg. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.80%. Virco Mfg.’s dividend payout ratio (DPR) is presently 6.06%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $17.00 price target (down from $20.00) on shares of Virco Mfg. in a research note on Tuesday. StockNews.com lowered Virco Mfg. from a “buy” rating to a “hold” rating in a report on Tuesday.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.