Q3 2024 Earnings Forecast for Virtu Financial, Inc. Issued By Zacks Research (NASDAQ:VIRT)

Virtu Financial, Inc. (NASDAQ:VIRT) – Zacks Research raised their Q3 2024 earnings estimates for shares of Virtu Financial in a research report issued to clients and investors on Tuesday, June 18th. Zacks Research analyst K. Dey now forecasts that the financial services provider will earn $0.44 per share for the quarter, up from their prior estimate of $0.43. The consensus estimate for Virtu Financial’s current full-year earnings is $2.08 per share. Zacks Research also issued estimates for Virtu Financial’s FY2024 earnings at $2.03 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.34 EPS.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Virtu Financial from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Bank of America increased their target price on shares of Virtu Financial from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. StockNews.com raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Sandler increased their price objective on shares of Virtu Financial from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup boosted their target price on Virtu Financial from $22.50 to $24.50 and gave the company a “buy” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.24.

Virtu Financial Stock Performance

Shares of Virtu Financial stock opened at $23.18 on Friday. The company has a market cap of $3.64 billion, a P/E ratio of 16.21, a PEG ratio of 0.50 and a beta of 0.36. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $22.51 and a two-hundred day moving average price of $20.21. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $25.68.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $366.87 million during the quarter, compared to the consensus estimate of $334.79 million. Virtu Financial had a net margin of 6.04% and a return on equity of 17.33%.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date was Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 4.14%. Virtu Financial’s dividend payout ratio (DPR) is currently 67.13%.

Institutional Trading of Virtu Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Virtu Financial by 14.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,037,105 shares of the financial services provider’s stock worth $17,911,000 after buying an additional 126,965 shares in the last quarter. HighTower Advisors LLC increased its stake in Virtu Financial by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 85,873 shares of the financial services provider’s stock valued at $1,483,000 after buying an additional 1,388 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Virtu Financial by 131.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 84,802 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 48,127 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Virtu Financial in the 3rd quarter worth approximately $195,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Virtu Financial by 23.7% in the third quarter. Envestnet Asset Management Inc. now owns 504,739 shares of the financial services provider’s stock valued at $8,717,000 after acquiring an additional 96,772 shares in the last quarter. 45.78% of the stock is owned by institutional investors.

Virtu Financial Company Profile

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.