Qfin (NASDAQ:QFIN) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Qfin (NASDAQ:QFIN) released its quarterly earnings results on Tuesday. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01), Zacks reports. The firm had revenue of $585.10 million for the quarter, compared to analysts’ expectations of $664.95 million. Qfin had a return on equity of 28.73% and a net margin of 35.09%.

Qfin Trading Up 3.6%

Shares of Qfin stock opened at $14.43 on Wednesday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 2.10, a price-to-earnings-growth ratio of 0.21 and a beta of 0.49. Qfin has a 52-week low of $13.81 and a 52-week high of $48.94. The company’s 50-day simple moving average is $15.65 and its 200-day simple moving average is $21.02. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

QFIN has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $21.00 in a report on Wednesday, November 19th. Finally, Zacks Research downgraded Qfin from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.85.

Hedge Funds Weigh In On Qfin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Qfin by 415.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after buying an additional 2,125 shares during the period. Parallel Advisors LLC boosted its stake in shares of Qfin by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock valued at $65,000 after buying an additional 656 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Qfin by 23.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after acquiring an additional 1,016 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Qfin by 14.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock worth $108,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

About Qfin

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.