Virtus Investment Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Virtus Investment Partners met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
Virtus Investment Partners chalked up revenue of $96.1 million. The two analysts polled by S&P Capital IQ expected sales of $96.0 million on the same basis. GAAP reported sales were 44% higher than the prior-year quarter's $66.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $1.91. The one earnings estimate compiled by S&P Capital IQ anticipated $1.98 per share. GAAP EPS of $1.91 for Q2 were 84% higher than the prior-year quarter's $1.04 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 40.6%, 240 basis points better than the prior-year quarter. Operating margin was 28.0%, 550 basis points better than the prior-year quarter. Net margin was 16.0%, 350 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $100.7 million. On the bottom line, the average EPS estimate is $2.13.
Next year's average estimate for revenue is $386.7 million. The average EPS estimate is $8.13.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 36 members out of 43 rating the stock outperform, and seven members rating it underperform. Among nine CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give Virtus Investment Partners a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Virtus Investment Partners is hold, with an average price target of $225.00.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.