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

Virco Mfg. Co. (NASDAQ:VIRC) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.025 per share on Friday, January 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, December 20th.

Virco Mfg. has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Virco Mfg. to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 5.7%.

Virco Mfg. Stock Up 0.5 %

Shares of VIRC opened at $12.58 on Wednesday. The firm has a market cap of $204.93 million, a PE ratio of 7.59 and a beta of 0.68. The company’s fifty day moving average is $14.93 and its two-hundred day moving average is $14.89. Virco Mfg. has a fifty-two week low of $8.63 and a fifty-two week high of $18.50. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04.

Virco Mfg. (NASDAQ:VIRC) last posted its earnings results on Monday, December 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.35). Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. During the same quarter last year, the business posted $0.62 EPS. Analysts forecast that Virco Mfg. will post 1.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VIRC shares. StockNews.com lowered shares of Virco Mfg. from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $17.00 price target (down previously from $20.00) on shares of Virco Mfg. in a research note on Tuesday.

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.