Virtu Financial Inc (NASDAQ:VIRT) – Research analysts at Jefferies Financial Group cut their Q3 2018 earnings estimates for Virtu Financial in a research report issued to clients and investors on Wednesday, October 10th. Jefferies Financial Group analyst D. Fannon now anticipates that the financial services provider will earn $0.19 per share for the quarter, down from their previous estimate of $0.24. Jefferies Financial Group currently has a “Buy” rating and a $25.00 target price on the stock. Jefferies Financial Group also issued estimates for Virtu Financial’s Q4 2018 earnings at $0.21 EPS, FY2018 earnings at $1.41 EPS and FY2020 earnings at $1.66 EPS.
Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. The company had revenue of $328.10 million during the quarter, compared to the consensus estimate of $236.08 million. During the same quarter in the prior year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 126.4% compared to the same quarter last year.
A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Virtu Financial from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine upgraded Virtu Financial from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup restated a “hold” rating on shares of Virtu Financial in a report on Friday, October 5th. BidaskClub upgraded Virtu Financial from a “strong sell” rating to a “sell” rating in a report on Friday, October 5th. Finally, Compass Point began coverage on Virtu Financial in a report on Wednesday, September 19th. They issued a “neutral” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Virtu Financial has an average rating of “Hold” and a consensus price target of $30.09.
VIRT stock opened at $23.02 on Thursday. Virtu Financial has a twelve month low of $13.10 and a twelve month high of $37.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $3.89 billion, a PE ratio of 40.37, a P/E/G ratio of 2.71 and a beta of -0.77.
Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Virtu Financial by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 177,070 shares of the financial services provider’s stock valued at $5,844,000 after buying an additional 9,341 shares during the period. Aperio Group LLC bought a new stake in shares of Virtu Financial in the first quarter valued at $210,000. BlackRock Inc. raised its stake in shares of Virtu Financial by 2.0% in the first quarter. BlackRock Inc. now owns 2,100,566 shares of the financial services provider’s stock valued at $69,319,000 after buying an additional 40,362 shares during the period. New York State Common Retirement Fund raised its stake in shares of Virtu Financial by 3.9% in the first quarter. New York State Common Retirement Fund now owns 245,623 shares of the financial services provider’s stock valued at $8,106,000 after buying an additional 9,247 shares during the period. Finally, California Public Employees Retirement System bought a new stake in shares of Virtu Financial in the first quarter valued at $276,000. Institutional investors and hedge funds own 54.14% of the company’s stock.
In other Virtu Financial news, Director John Nixon purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were acquired at an average cost of $20.15 per share, for a total transaction of $100,750.00. Following the completion of the acquisition, the director now owns 24,894 shares of the company’s stock, valued at approximately $501,614.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 73.50% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.17%. Virtu Financial’s dividend payout ratio (DPR) is currently 168.42%.
About Virtu Financial
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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