Virtu Financial (VIRT) to Release Earnings on Thursday

Virtu Financial (NASDAQ:VIRT) is scheduled to be releasing its earnings data before the market opens on Thursday, October 24th. Analysts expect Virtu Financial to post earnings of $0.75 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The company had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 million. During the same quarter last year, the business earned $0.29 earnings per share. Virtu Financial’s revenue was up 38.2% on a year-over-year basis. On average, analysts expect Virtu Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Virtu Financial Stock Performance

Virtu Financial stock opened at $33.42 on Thursday. Virtu Financial has a 12-month low of $16.02 and a 12-month high of $33.47. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $30.98 and its two-hundred day moving average price is $25.96. The stock has a market cap of $5.25 billion, a PE ratio of 23.37, a P/E/G ratio of 0.54 and a beta of 0.38.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio is presently 67.13%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lifted their target price on Virtu Financial from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Bank of America decreased their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. UBS Group lifted their price target on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Finally, The Goldman Sachs Group lifted their price target on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.79.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 46.70% of the stock is owned by insiders.

About Virtu Financial

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.