Virco Mfg. Co. (VIRC) To Go Ex-Dividend on December 20th

Virco Mfg. Co. (NASDAQ:VIRC) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 20th.

Virco Mfg. has a dividend payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Virco Mfg. 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 Mfg. Trading Up 1.5 %

Shares of VIRC stock opened at $11.63 on Wednesday. Virco Mfg. has a twelve month low of $8.75 and a twelve month high of $18.50. The company’s 50-day moving average price is $14.74 and its 200-day moving average price is $14.88. The stock has a market cap of $189.44 million, a price-to-earnings ratio of 7.50 and a beta of 0.68. The company has a current ratio of 2.88, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03.

Virco Mfg. (NASDAQ:VIRC) last issued 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 return on equity of 24.63% and a net margin of 8.93%. During the same period last year, the business posted $0.62 EPS. As a group, equities analysts predict that Virco Mfg. will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

VIRC has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $17.00 target price (down previously from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th. StockNews.com cut shares of Virco Mfg. from a “buy” rating to a “hold” rating 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.