Virtu Financial (NASDAQ:VIRT) Releases Earnings Results, Beats Expectations By $0.32 EPS

Virtu Financial (NASDAQ:VIRT) released its quarterly earnings results on Wednesday. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.32, Zacks reports. Virtu Financial had a net margin of 9.61% and a return on equity of 27.69%.

Virtu Financial Stock Up 0.2 %

NASDAQ:VIRT opened at $39.67 on Friday. Virtu Financial has a one year low of $16.02 and a one year high of $40.44. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $6.13 billion, a PE ratio of 13.36, a P/E/G ratio of 0.52 and a beta of 0.45. The firm’s 50 day simple moving average is $36.73 and its 200 day simple moving average is $32.95.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, February 28th. Virtu Financial’s dividend payout ratio is currently 32.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VIRT shares. Morgan Stanley raised their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler raised their price objective on Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Bank of America lowered their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Citigroup raised their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.21.

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.