Brokerages expect Virtu Financial, Inc. (NASDAQ: VIRT) to report $374.37 million in sales for the current fiscal quarter, according to Zacks. Two analysts released earnings estimates for Virtu Financial, with estimates ranging from $361.20 million to $387.54 million. Virtu Financial recorded sales of $455.93 million in the same quarter last year, suggesting a negative growth rate of 17.9% year-over-year. The company is expected to release its next results before the market opens on Tuesday, February 8.
According to Zacks, analysts expect Virtu Financial to report annual sales of $1.80 billion for the current fiscal year, with estimates ranging from $1.79 billion to $1.81 billion. For the next fiscal year, analysts expect the company to post sales of $1.44 billion, with estimates ranging from $1.41 billion to $1.47 billion. Zacks sales averages are an average average based on a survey of sell-side analysts who cover Virtu Financial.
Virtu Financial Inc (NASDAQ:VIRT) last reported quarterly earnings data on Wednesday, November 3. The financial services provider reported earnings per share of $0.70 for the quarter, beating the consensus estimate of $0.62 by $0.08. The company posted revenue of $354.44 million in the quarter, versus analyst estimates of $321.71 million. Virtu Financial had a return on equity of 38.59% and a net margin of 17.43%. The company’s revenue for the quarter was down 2.2% year over year. During the same quarter last year, the company posted EPS of $0.81.
VIRT has been the subject of a number of research analyst reports. Rosenblatt Securities raised its price target on Virtu Financial from $35.00 to $38.00 and gave the company a “buy” rating in a Thursday, November 4 research report. Citigroup raised its target price on Virtu Financial from $25.50 to $29.00 and gave the stock a “neutral” rating in a Thursday, November 4 research report. Finally, Zacks Investment Research upgraded Virtu Financial from a “sell” to a “hold” rating and set a price target of $26.00 for the stock in a Tuesday, October 5 research note. One research analyst gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat, Virtu Financial has an average rating of “Hold” and a consensus target price of $30.60.
In other news, Director Joanne Minieri bought 1,750 shares in a trade on Monday, November 8. The shares were purchased at an average price of $28.00 per share, with a total value of $49,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, major shareholder Private Ltd Gic sold 3,250,000 shares of the company in a transaction dated Thursday, January 13. The stock was sold at an average price of $29.63, for a total value of $96,297,500.00. Disclosure of this sale can be found here. Company insiders own 49.50% of the company’s stock.
Major investors have recently been buying and selling shares of the company. Signaturefd LLC increased its stake in shares of Virtu Financial by 93.4% during the 4th quarter. Signaturefd LLC now owns 1,027 shares of the financial services provider worth $30,000 after acquiring 496 additional shares in the last quarter. OLD National Bancorp IN increased its stake in Virtu Financial by 34.9% during the 4th quarter. OLD National Bancorp IN now owns 151,473 shares of the financial services provider worth $4,367,000 after purchasing an additional 39,194 shares during the period. National Bank of Canada FI bought a new stock position in Virtu Financial in Q4 worth $1,038,000. Bangor Savings Bank increased its stake in Virtu Financial by 8.2% during the 4th quarter. Bangor Savings Bank now owns 83,938 shares of the financial services provider worth $2,420,000 after buying an additional 6,328 shares in the last quarter. Finally, the Alaska State Department of Revenue purchased a new position in Virtu Financial during Q4 at a value of $1,263,000.
VIRT Action opened at $29.01 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt ratio of 0.89. The company has a market capitalization of $5.29 billion, a PE ratio of 7.52 and a beta of -0.37. Virtu Financial has a 12-month low of $23.19 and a 12-month high of $32.35. The stock has a 50-day simple moving average of $28.58 and a 200-day simple moving average of $26.66.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Wednesday, December 1 received a dividend of $0.24 per share. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Tuesday, November 30. Virtu Financial’s payout ratio is currently 24.87%.
About Virtu Financial
Virtu Financial, Inc provides market making and liquidity services. It operates through the following segments: Market Making, Execution Services and Corporate. The Market Making segment is engaged in the buying and selling of securities and other financial instruments. The Execution Services segment agency offers trading platforms that enable seamless trading of global equities, ETFs and fixed income securities to institutions, banks and brokers.
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