Virco Mfg. (VIRC) Projected to Post Earnings on Friday

Virco Mfg. (NASDAQ:VIRC - Get Free Report) is projected to issue its quarterly earnings data before the market opens on Friday, April 11th. Analysts expect the company to announce earnings of ($0.15) per share and revenue of $43.00 million for the quarter.

Virco Mfg. Price Performance

NASDAQ:VIRC traded down $0.11 on Tuesday, reaching $9.07. 73,761 shares of the company's stock traded hands, compared to its average volume of 189,293. The stock has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $12.14. Virco Mfg. has a 12 month low of $8.52 and a 12 month high of $18.50. The firm has a market cap of $147.74 million, a PE ratio of 5.85 and a beta of 0.41. The company has a quick ratio of 1.70, a current ratio of 2.88 and a debt-to-equity ratio of 0.03.

Virco Mfg. declared that its board has approved a share buyback program on Tuesday, January 21st that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Virco Mfg. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Wednesday, March 26th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 26th. Virco Mfg.'s dividend payout ratio (DPR) is presently 6.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VIRC shares. StockNews.com cut shares of Virco Mfg. from a "buy" rating to a "hold" rating in a research report on Sunday. Wedbush reiterated an "outperform" rating and issued a $17.00 price target (down from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th.

Virco Mfg. Company Profile

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.