Virco Mfg. (NASDAQ:VIRC) Releases Earnings Results, Misses Expectations By $0.06 EPS

Virco Mfg. (NASDAQ:VIRC) posted its quarterly earnings data on Monday. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06), Fidelity Earnings reports. Virco Mfg. had a negative return on equity of 2.63% and a negative net margin of 0.89%.

NASDAQ:VIRC traded down $0.03 during trading hours on Wednesday, hitting $3.50. The company’s stock had a trading volume of 328 shares, compared to its average volume of 33,213. The company has a current ratio of 2.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. Virco Mfg. has a 52-week low of $1.94 and a 52-week high of $4.61. The stock has a market capitalization of $55.72 million, a P/E ratio of -39.11 and a beta of 1.36. The stock has a fifty day moving average of $3.52 and a 200-day moving average of $3.37.

An institutional investor recently raised its position in Virco Mfg. stock. Morgan Stanley raised its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 2,140,000.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,401 shares of the company’s stock after acquiring an additional 21,400 shares during the period. Morgan Stanley owned 0.13% of Virco Mfg. worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 20.53% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on VIRC. TheStreet raised Virco Mfg. from a “d+” rating to a “c” rating in a report on Monday, June 14th. Zacks Investment Research raised Virco Mfg. from a “sell” rating to a “hold” rating in a report on Tuesday, August 17th.

Virco Mfg. Company Profile

Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.

Read More: What is Considered a Good Return on Equity (ROE)?

Earnings History for Virco Mfg. (NASDAQ:VIRC)

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