Virco Mfg. Co. (NASDAQ:VIRC) Declares Quarterly Dividend of $0.03

Virco Mfg. Co. (NASDAQ:VIRC) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be given a dividend of 0.025 per share on Friday, January 10th. This represents a $0.10 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, December 20th.

Virco Mfg. has a payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Virco Mfg. to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 5.7%.

Virco Mfg. Trading Up 0.5 %

Virco Mfg. stock opened at $12.58 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $14.93 and a two-hundred day moving average price of $14.89. The firm has a market capitalization of $204.93 million, a price-to-earnings ratio of 7.59 and a beta of 0.68. Virco Mfg. has a 52-week low of $8.63 and a 52-week high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. During the same quarter last year, the business earned $0.62 earnings per share. Sell-side analysts expect that Virco Mfg. will post 1.93 earnings per share for the current year.

Wall Street Analyst Weigh In

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