Analysts Expect Virtus Investment Partners Inc (VRTS) Will Announce Earnings of $3.33 Per Share
Equities research analysts expect Virtus Investment Partners Inc (NASDAQ:VRTS) to announce earnings per share of $3.33 for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Virtus Investment Partners’ earnings, with the lowest EPS estimate coming in at $3.23 and the highest estimate coming in at $3.42. Virtus Investment Partners posted earnings of $2.30 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 44.8%. The business is scheduled to report its next quarterly earnings results on Friday, October 26th.
On average, analysts expect that Virtus Investment Partners will report full-year earnings of $12.36 per share for the current financial year, with EPS estimates ranging from $12.27 to $12.45. For the next year, analysts anticipate that the company will report earnings of $13.62 per share, with EPS estimates ranging from $13.24 to $14.00. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Virtus Investment Partners.
Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, July 27th. The closed-end fund reported $2.97 EPS for the quarter, missing the Zacks’ consensus estimate of $3.02 by ($0.05). Virtus Investment Partners had a net margin of 13.76% and a return on equity of 17.39%. The business had revenue of $132.93 million during the quarter, compared to analysts’ expectations of $134.07 million. During the same quarter in the prior year, the firm earned $1.61 EPS. Virtus Investment Partners’s revenue for the quarter was up 41.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Gendell Jeffrey L acquired a new stake in shares of Virtus Investment Partners in the first quarter valued at $1,106,000. Marcato Capital Management LP grew its stake in shares of Virtus Investment Partners by 6.9% in the first quarter. Marcato Capital Management LP now owns 74,800 shares of the closed-end fund’s stock valued at $9,260,000 after buying an additional 4,801 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Virtus Investment Partners by 2.6% in the first quarter. Principal Financial Group Inc. now owns 54,963 shares of the closed-end fund’s stock valued at $6,804,000 after buying an additional 1,398 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its stake in shares of Virtus Investment Partners by 12.9% in the first quarter. BW Gestao de Investimentos Ltda. now owns 9,490 shares of the closed-end fund’s stock valued at $1,175,000 after buying an additional 1,082 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Virtus Investment Partners in the second quarter valued at $239,000. 97.52% of the stock is owned by institutional investors and hedge funds.
NASDAQ:VRTS traded up $0.70 on Thursday, reaching $121.45. The company’s stock had a trading volume of 19,307 shares, compared to its average volume of 33,485. Virtus Investment Partners has a 12-month low of $106.55 and a 12-month high of $138.02. The company has a quick ratio of 27.62, a current ratio of 27.62 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $873.19 million, a P/E ratio of 11.65, a P/E/G ratio of 0.39 and a beta of 1.49.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $0.45. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.81%. Virtus Investment Partners’s payout ratio is presently 23.44%.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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