Stock analysts expect Virtu Financial, Inc. (NASDAQ: VIRT – Get a rating) to announce sales of $410.12 million for the current quarter, Zacks Investment Research reports. Three analysts have released earnings estimates for Virtu Financial. The lowest sales estimate is $384.70 million and the highest is $423.07 million. Virtu Financial reported sales of $341.83 million in the same quarter last year, indicating a positive growth rate of 20% year-over-year. The company is due to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Virtu Financial to report annual revenue of $1.63 billion for the current fiscal year, with estimates ranging from $1.49 billion to $1.77 billion. of dollars. For next year, analysts expect the company to record sales of $1.60 billion, with estimates ranging from $1.30 billion to $1.82 billion. Zacks Investment Research sales calculations are an average average based on a survey of analysts who provide coverage for Virtu Financial.
Virtual Financial (NASDAQ: VIRT – Get a rating) last reported quarterly earnings data on Thursday, April 28. The financial services provider reported EPS of $1.27 for the quarter, beating consensus analyst estimates of $1.19 by $0.08. Virtu Financial had a return on equity of 39.13% and a net margin of 13.99%. The company posted revenue of $522.31 million in the quarter, versus a consensus estimate of $483.93 million. In the same quarter a year earlier, the company had earned earnings per share of $2.04. The company’s revenue for the quarter was down 28.3% year over year.
VIRT has been the subject of a number of research analyst reports. Rosenblatt Securities raised its price target on Virtu Financial shares from $40.00 to $44.00 and gave the company a “buy” rating in a Thursday, April 14 research note. JPMorgan Chase & Co. lowered its price target on Virtu Financial shares from $40.00 to $37.50 in a Friday, April 29 research note. Piper Sandler raised her price target on Virtu Financial shares from $38.00 to $45.00 and gave the company an “overweight” rating in a Friday, April 1 research note. StockNews.com launched coverage on Virtu Financial shares in a research note on Thursday, March 31. They set a “holding” rating for the company. To finish, Zacks Investment Research moved shares of Virtu Financial from a “hold” rating to a “strong-buy” rating and set a price target of $40.00 for the company in a research note on Friday, February 11. One equity research analyst has assigned the stock a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned the company’s stock a high buy rating. According to MarketBeat.com, the stock currently has a consensus buy rating and a consensus price target of $38.17.
In other Virtu Financial news, COO Brett Fairclough sold 50,000 shares of the company in a transaction that took place on Wednesday, May 4. The stock was sold at an average price of $29.25, for a total value of $1,462,500.00. Following completion of the transaction, the COO now owns 27,488 shares of the company, valued at approximately $804,024. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, Executive Vice President Stephen Cavoli sold 30,000 shares of the company in a transaction that took place on Thursday, May 5. The stock was sold at an average price of $28.90, for a total value of $867,000.00. Following the completion of the transaction, the executive vice president now owns 73,277 shares of the company, valued at approximately $2,117,705.30. Disclosure of this sale can be found here. Insiders sold a total of 100,000 shares of the company valued at $2,905,500 during the last quarter. Insiders of the company hold 63.70% of the shares of the company.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Human Investing LLC raised its position in Virtu Financial shares by 1.1% in the fourth quarter. Human Investing LLC now owns 35,374 shares of the financial services provider valued at $1,020,000 after buying an additional 380 shares last quarter. Hartford Investment Management Co. raised its position in Virtu Financial shares by 1.8% in the first quarter. Hartford Investment Management Co. now owns 24,452 shares of the financial services provider valued at $910,000 after buying an additional 430 shares last quarter. Advisor Group Holdings Inc. raised its position in shares of Virtu Financial by 1.1% in the third quarter. Advisor Group Holdings Inc. now owns 43,229 shares of the financial services provider valued at $1,057,000 after buying 451 additional shares last quarter. Signaturefd LLC raised its position in Virtu Financial shares by 93.4% in the fourth quarter. Signaturefd LLC now owns 1,027 shares of the financial services provider valued at $30,000 after buying an additional 496 shares last quarter. Finally, the North Carolina State Treasurer raised its position in Virtu Financial shares by 1.6% in the third quarter. The North Carolina state treasurer now owns 33,006 shares of the financial services provider worth $806,000 after buying 529 more shares last quarter. Hedge funds and other institutional investors own 87.95% of the company’s shares.
NASDAQ VIRT opened at $27.56 on Friday. Virtu Financial has a 12-month low of $23.19 and a 12-month high of $38.63. The company has a 50-day moving average of $34.80 and a 200-day moving average of $31.36. The company has a debt ratio of 1.06, a current ratio of 0.51 and a quick ratio of 0.60. The company has a market capitalization of $4.90 billion, a P/E ratio of 9.31 and a beta of -0.21.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 will receive a dividend of $0.24 per share. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Tuesday, May 31. Virtu Financial’s payout ratio is currently 32.43%.
Virtu Financial Company Profile (Get a rating)
Virtu Financial, Inc, a financial services company, provides data, analytics and connectivity products to customers worldwide. The Company operates in two segments, Market Making and Execution Services. Its suite of products includes execution, liquidity provision, analytics and platform-neutral offerings for brokers and multi-dealers in workflow technology.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and reviews for Virtu Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Virtu Financial and related companies with MarketBeat.com’s free daily email newsletter.