Virtu Financial Inc to Post Q4 2019 Earnings of $0.47 Per Share, Jefferies Financial Group Forecasts (NASDAQ:VIRT)

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Virtu Financial Inc (NASDAQ:VIRT) – Equities researchers at Jefferies Financial Group increased their Q4 2019 earnings per share (EPS) estimates for shares of Virtu Financial in a research note issued to investors on Wednesday, July 10th. Jefferies Financial Group analyst D. Fannon now anticipates that the financial services provider will earn $0.47 per share for the quarter, up from their prior forecast of $0.46. Jefferies Financial Group also issued estimates for Virtu Financial’s FY2020 earnings at $1.95 EPS.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Friday, May 3rd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). Virtu Financial had a net margin of 7.56% and a return on equity of 19.13%. The firm had revenue of $363.00 million for the quarter, compared to analyst estimates of $245.86 million. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year.

Several other equities analysts have also recently issued reports on the company. BidaskClub cut Virtu Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 12th. ValuEngine cut Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Zacks Investment Research upgraded Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Saturday. Rosenblatt Securities started coverage on Virtu Financial in a report on Wednesday, June 26th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, UBS Group decreased their target price on Spotify from $182.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.78.

Shares of VIRT stock opened at $21.84 on Friday. Virtu Financial has a 1 year low of $19.65 and a 1 year high of $29.17. The firm has a market cap of $4.14 billion, a PE ratio of 11.14, a PEG ratio of 2.88 and a beta of -0.59. The firm’s fifty day moving average price is $22.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.65.

Hedge funds have recently modified their holdings of the company. Kwmg LLC purchased a new position in shares of Virtu Financial during the first quarter valued at $43,000. Bremer Bank National Association purchased a new position in shares of Virtu Financial during the first quarter valued at $83,000. Bogart Wealth LLC grew its holdings in shares of Virtu Financial by 42.9% during the first quarter. Bogart Wealth LLC now owns 4,948 shares of the financial services provider’s stock valued at $117,000 after buying an additional 1,485 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Virtu Financial by 19.5% during the fourth quarter. Legal & General Group Plc now owns 6,703 shares of the financial services provider’s stock valued at $173,000 after buying an additional 1,096 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Virtu Financial by 52.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 8,956 shares of the financial services provider’s stock valued at $231,000 after buying an additional 3,082 shares in the last quarter. Institutional investors and hedge funds own 56.67% of the company’s stock.

In related news, EVP Stephen Cavoli sold 7,500 shares of Virtu Financial stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $23.48, for a total value of $176,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 63.70% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Friday, May 31st. Virtu Financial’s payout ratio is 48.98%.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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Earnings History and Estimates for Virtu Financial (NASDAQ:VIRT)

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