Virtus Investment Partners Meets on Revenues, Misses on EPS
Virtus Investment Partners (NAS: VRTS) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Virtus Investment Partners met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
Virtus Investment Partners chalked up revenue of $96.1 million. The two analysts polled by S&P Capital IQ expected sales of $96.0 million on the same basis. GAAP reported sales were 44% higher than the prior-year quarter's $66.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $1.91. The one earnings estimate compiled by S&P Capital IQ anticipated $1.98 per share. GAAP EPS of $1.91 for Q2 were 84% higher than the prior-year quarter's $1.04 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 40.6%, 240 basis points better than the prior-year quarter. Operating margin was 28.0%, 550 basis points better than the prior-year quarter. Net margin was 16.0%, 350 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $100.7 million. On the bottom line, the average EPS estimate is $2.13.
Next year's average estimate for revenue is $386.7 million. The average EPS estimate is $8.13.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 36 members out of 43 rating the stock outperform, and seven members rating it underperform. Among nine CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give Virtus Investment Partners a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Virtus Investment Partners is hold, with an average price target of $225.00.
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The article Virtus Investment Partners Meets on Revenues, Misses on EPS originally appeared on Fool.com.
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