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

Virco Mfg. Co. (NASDAQ:VIRC) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Friday, December 20th will be given 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. Equities 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. Stock Performance

NASDAQ VIRC opened at $11.63 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.20. The company has a market cap of $189.44 million, a P/E ratio of 7.50 and a beta of 0.68. The stock has a 50-day moving average of $14.74 and a two-hundred day moving average of $14.88. Virco Mfg. has a 1-year low of $8.75 and a 1-year high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last announced its quarterly earnings data on Monday, December 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, analysts anticipate that Virco Mfg. will post 1.54 EPS for the current year.

Analyst Ratings Changes

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

About Virco Mfg.

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.