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

Virco Mfg. Co. (NASDAQ:VIRCGet Free Report) announced a quarterly dividend on Friday, March 14th, Wall Street Journal reports. Investors of record on Wednesday, March 26th will be given a dividend of 0.025 per share on Friday, April 11th. This represents a $0.10 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, March 26th.

Virco Mfg. Price Performance

Shares of VIRC stock traded up $0.19 on Friday, reaching $9.94. The company had a trading volume of 66,474 shares, compared to its average volume of 190,721. The business’s 50-day moving average is $10.60 and its 200 day moving average is $12.91. The stock has a market capitalization of $161.91 million, a PE ratio of 6.41 and a beta of 0.76. Virco Mfg. has a one year low of $9.08 and a one year high of $18.50. 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. (NASDAQ:VIRCGet Free Report) last posted its earnings results on Monday, December 9th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.35). Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. During the same quarter last year, the company earned $0.62 EPS. Equities research analysts forecast that Virco Mfg. will post 1.54 EPS for the current fiscal year.

Virco Mfg. declared that its Board of Directors has initiated a share buyback program on Tuesday, January 21st that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VIRC shares. StockNews.com upgraded shares of Virco Mfg. from a “hold” rating to a “buy” rating in a research report on Tuesday. Wedbush reissued an “outperform” rating and set a $17.00 target price (down from $20.00) on shares of Virco Mfg. in a research report on Tuesday, December 10th.

Read Our Latest Report on VIRC

About Virco Mfg.

(Get Free Report)

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.

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Dividend History for Virco Mfg. (NASDAQ:VIRC)

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