Wedbush Brokers Cut Earnings Estimates for Virco Manufacturing Corp. (VIRC)
Virco Manufacturing Corp. (NASDAQ:VIRC) – Equities research analysts at Wedbush cut their FY2017 EPS estimates for shares of Virco Manufacturing Corp. in a research report issued to clients and investors on Thursday. Wedbush analyst A. Kaschalk now forecasts that the firm will post earnings per share of $0.36 for the year, down from their prior estimate of $0.39. Wedbush also issued estimates for Virco Manufacturing Corp.’s Q4 2017 earnings at ($0.34) EPS, Q1 2018 earnings at ($0.11) EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at ($0.19) EPS and FY2018 earnings at $0.34 EPS.
Separately, Zacks Investment Research lowered shares of Virco Manufacturing Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th.
Shares of Virco Manufacturing Corp. (NASDAQ:VIRC) opened at 4.37 on Monday. Virco Manufacturing Corp. has a 52-week low of $2.81 and a 52-week high of $4.94. The stock has a market cap of $65.71 million, a PE ratio of 16.31 and a beta of 0.94. The stock’s 50 day moving average is $4.33 and its 200 day moving average is $3.82.
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Virco Manufacturing Corp. (NASDAQ:VIRC) last posted its quarterly earnings data on Wednesday, September 14th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The company had revenue of $61.40 million for the quarter. Virco Manufacturing Corp. had a net margin of 2.42% and a return on equity of 11.82%.
Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Virco Manufacturing Corp. by 0.9% in the first quarter. Renaissance Technologies LLC now owns 175,100 shares of the company’s stock valued at $539,000 after buying an additional 1,500 shares during the period. Vanguard Group Inc. raised its position in Virco Manufacturing Corp. by 4.7% in the second quarter. Vanguard Group Inc. now owns 213,291 shares of the company’s stock worth $928,000 after buying an additional 9,608 shares during the last quarter. Wedbush Securities Inc. raised its position in Virco Manufacturing Corp. by 1.0% in the second quarter. Wedbush Securities Inc. now owns 1,736,025 shares of the company’s stock worth $7,552,000 after buying an additional 17,373 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Virco Manufacturing Corp. by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 25,413 shares of the company’s stock worth $110,000 after buying an additional 80 shares during the last quarter. Institutional investors own 28.21% of the company’s stock.
About Virco Manufacturing Corp.
Virco Mfg. Corporation (Virco) is engaged in the designing, producing and distributing of furniture for a range family of customers. The Company is a manufacturer and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. It manufactures an assortment of products, including mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables.
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