Lufax (NYSE:LU) Issues Quarterly Earnings Results, Misses Expectations By $0.15 EPS

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 firm had revenue of $789.93 million during the quarter. During the same quarter in the prior year, the business earned $0.04 EPS.

Lufax Trading Down 0.7 %

Shares of Lufax stock opened at $2.87 on Thursday. The company has a market capitalization of $1.65 billion, a P/E ratio of -20.71 and a beta of 0.85. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $2.77 and a 200 day simple moving average of $3.19. Lufax has a 12-month low of $2.00 and a 12-month high of $4.94.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America cut their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group reissued a “hold” rating and set a $3.20 target price on shares of Lufax in a research note 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.