Lufax (NYSE:LU) Announces Quarterly Earnings Results

Lufax (NYSE:LU) issued its quarterly earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15), Yahoo Finance reports. Lufax had a negative return on equity of 2.66% and a negative net margin of 8.70%. The business had revenue of $789.93 million for the quarter. During the same quarter in the previous year, the business earned $0.04 EPS.

Lufax Stock Down 4.9 %

LU stock opened at $2.90 on Thursday. The company’s 50 day moving average price is $2.77 and its 200 day moving average price is $3.19. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -20.71 and a beta of 0.85. Lufax has a fifty-two week low of $2.00 and a fifty-two week high of $4.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.63 and a current ratio of 1.63.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Bank of America cut their target price on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.20 price objective on shares of Lufax in a research report on Thursday.

About Lufax

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.