Virtu Financial (NASDAQ:VIRT) Releases Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Virtu Financial (NASDAQ:VIRT) issued its earnings results on Thursday. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.23, Briefing.com reports. Virtu Financial had a return on equity of 22.67% and a net margin of 7.59%. The company had revenue of $385.10 million during the quarter, compared to the consensus estimate of $331.92 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s revenue was up 38.2% compared to the same quarter last year.

Virtu Financial Trading Up 5.6 %

Shares of VIRT opened at $29.48 on Friday. The company has a market capitalization of $4.63 billion, a P/E ratio of 20.62, a P/E/G ratio of 0.59 and a beta of 0.39. Virtu Financial has a one year low of $16.02 and a one year high of $29.51. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a 50-day moving average price of $23.16 and a 200 day moving average price of $20.71.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Sunday, September 1st. Virtu Financial’s dividend payout ratio is currently 67.13%.

Analyst Ratings Changes

Several brokerages have recently weighed in on VIRT. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Morgan Stanley upped their target price on Virtu Financial from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on Virtu Financial from $20.00 to $21.50 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Citigroup upped their target price on Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group increased their price target on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.03.

Virtu Financial Company Profile

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.