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

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

Virco Mfg. has a dividend payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. 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 Up 1.5 %

Virco Mfg. stock opened at $11.63 on Wednesday. The company has a market capitalization of $189.44 million, a P/E ratio of 7.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.88. Virco Mfg. has a fifty-two week low of $8.75 and a fifty-two week high of $18.50. The stock has a 50-day simple moving average of $14.74 and a 200-day simple moving average of $14.88.

Virco Mfg. (NASDAQ:VIRC) last issued 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 period in the previous year, the firm posted $0.62 earnings per share. Equities research analysts expect that Virco Mfg. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com lowered shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wedbush restated an “outperform” rating and issued a $17.00 price target (down previously from $20.00) on shares of Virco Mfg. in a research report 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.