Virtu Financial Inc (NASDAQ:VIRT) Expected to Post Earnings of $0.30 Per Share

Wall Street brokerages expect that Virtu Financial Inc (NASDAQ:VIRT) will announce earnings per share (EPS) of $0.30 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Virtu Financial’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.33. Virtu Financial reported earnings of $0.22 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 36.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Virtu Financial will report full-year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.11 to $1.26. For the next year, analysts expect that the company will report earnings of $1.73 per share, with EPS estimates ranging from $1.57 to $1.97. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Virtu Financial.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.11). Virtu Financial had a return on equity of 17.64% and a net margin of 3.58%. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $262.19 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Virtu Financial’s quarterly revenue was up 15.4% compared to the same quarter last year.

VIRT has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $23.00 target price on shares of Virtu Financial in a research report on Tuesday, September 3rd. Rosenblatt Securities started coverage on Virtu Financial in a report on Wednesday, June 26th. They issued a “buy” rating and a $29.00 price objective for the company. UBS Group cut their price objective on Virtu Financial from $29.00 to $25.00 and set a “buy” rating for the company in a report on Monday, August 12th. BidaskClub upgraded Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley set a $20.00 price objective on Virtu Financial and gave the stock a “hold” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.29.

Virtu Financial stock traded down $0.02 during midday trading on Friday, hitting $20.43. 850,400 shares of the company’s stock were exchanged, compared to its average volume of 957,089. Virtu Financial has a 52-week low of $17.61 and a 52-week high of $29.17. The stock has a 50-day moving average price of $19.52 and a two-hundred day moving average price of $22.57. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $3.71 billion, a P/E ratio of 10.42, a PEG ratio of 3.52 and a beta of -0.54.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Friday, August 30th. Virtu Financial’s payout ratio is currently 48.98%.

In other news, CEO Douglas A. Cifu acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $18.58 per share, for a total transaction of $185,800.00. Following the acquisition, the chief executive officer now owns 235,000 shares of the company’s stock, valued at $4,366,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 63.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Bremer Bank National Association purchased a new stake in Virtu Financial during the 1st quarter valued at about $83,000. Point72 Hong Kong Ltd boosted its holdings in Virtu Financial by 31.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,068 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,222 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Virtu Financial by 39.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,256 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,773 shares during the period. Parallel Advisors LLC boosted its holdings in Virtu Financial by 32.6% during the 2nd quarter. Parallel Advisors LLC now owns 6,689 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,644 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in Virtu Financial during the 2nd quarter valued at about $149,000. Institutional investors own 64.87% of the company’s stock.

Virtu Financial Company Profile

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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Earnings History and Estimates for Virtu Financial (NASDAQ:VIRT)

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