Virtu Financial (NASDAQ:VIRT) Announces Earnings Results

Virtu Financial (NASDAQ:VIRT) announced its quarterly earnings data on Thursday. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03, Briefing.com reports. The business had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business’s revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share.

Virtu Financial Price Performance

Shares of Virtu Financial stock traded up $0.11 during trading hours on Friday, reaching $30.97. The company’s stock had a trading volume of 1,104,090 shares, compared to its average volume of 1,282,295. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. Virtu Financial has a one year low of $16.02 and a one year high of $33.55. The firm has a 50 day moving average price of $31.41 and a 200-day moving average price of $26.56. The stock has a market cap of $4.87 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.49 and a beta of 0.38.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.10%. Virtu Financial’s payout ratio is currently 67.13%.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the sale, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 46.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VIRT. UBS Group lifted their target price on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. The Goldman Sachs Group lifted their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Bank of America dropped their target price on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Citigroup lifted their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Virtu Financial presently has a consensus rating of “Hold” and a consensus price target of $29.50.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.