Virco Manufacturing Corporation to Issue Quarterly Dividend of $0.03 (NASDAQ:VIRC)

Virco Manufacturing Corporation (NASDAQ:VIRC) announced a quarterly dividend on Thursday, December 4th. Shareholders of record on Friday, December 19th will be paid a dividend of 0.025 per share on Friday, January 9th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 19th.

Virco Manufacturing has a payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Virco Manufacturing to earn $1.31 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 7.6%.

Virco Manufacturing Price Performance

NASDAQ:VIRC opened at $6.72 on Wednesday. The stock has a market cap of $105.91 million, a PE ratio of 24.89 and a beta of 0.22. The company has a quick ratio of 1.80, a current ratio of 3.98 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $7.03 and its two-hundred day simple moving average is $7.74. Virco Manufacturing has a 52 week low of $6.01 and a 52 week high of $12.09.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, December 8th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.55). Virco Manufacturing had a return on equity of 3.33% and a net margin of 1.91%.The business had revenue of $47.64 million during the quarter, compared to analysts’ expectations of $85.90 million. As a group, analysts forecast that Virco Manufacturing will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Virco Manufacturing in a report on Monday. Wall Street Zen downgraded Virco Manufacturing from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Virco Manufacturing currently has a consensus rating of “Hold”.

About Virco Manufacturing

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.