Q2 2024 Earnings Estimate for Virtu Financial, Inc. Issued By Zacks Research (NASDAQ:VIRT)

Posted by Defense World Staff on Sep 11th, 2023

Virtu Financial, Inc. (NASDAQ:VIRT – Free Report) – Equities researchers at Zacks Research dropped their Q2 2024 earnings estimates for shares of Virtu Financial in a note issued to investors on Thursday, September 7th. Zacks Research analyst K. Dey now anticipates that the financial services provider will post earnings per share of $0.41 for the quarter, down from their previous estimate of $0.42. The consensus estimate for Virtu Financial’s current full-year earnings is $1.85 per share. Zacks Research also issued estimates for Virtu Financial’s FY2024 earnings at $2.09 EPS.

Virtu Financial (NASDAQ:VIRT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Virtu Financial had a return on equity of 18.21% and a net margin of 6.53%. The business had revenue of $278.69 million for the quarter, compared to analysts’ expectations of $290.67 million.

Several other analysts have also recently commented on VIRT. JPMorgan Chase & Co. cut shares of Virtu Financial from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $19.00 in a research note on Thursday, July 27th. Citigroup raised their target price on shares of Virtu Financial from $18.00 to $20.00 in a research note on Thursday, July 27th. Finally, StockNews.com began coverage on shares of Virtu Financial in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.40.

Read Our Latest Research Report on VIRT

Virtu Financial Trading Up 1.9 %

Shares of Virtu Financial stock opened at $18.39 on Monday. Virtu Financial has a 1 year low of $16.26 and a 1 year high of $23.74. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $3.00 billion, a P/E ratio of 13.52 and a beta of 0.24. The company’s fifty day moving average is $18.38 and its two-hundred day moving average is $18.30.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Thursday, August 31st. Virtu Financial’s dividend payout ratio (DPR) is 70.59%.

Institutional Trading of Virtu Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Virtu Financial by 57.6% in the first quarter. Barclays PLC now owns 284,309 shares of the financial services provider’s stock valued at $5,374,000 after purchasing an additional 103,856 shares during the period. Natixis Advisors L.P. raised its position in Virtu Financial by 13.1% during the first quarter. Natixis Advisors L.P. now owns 241,457 shares of the financial services provider’s stock worth $4,563,000 after acquiring an additional 27,985 shares during the last quarter. Dark Forest Capital Management LP raised its position in Virtu Financial by 4,769.6% during the first quarter. Dark Forest Capital Management LP now owns 10,421 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 10,207 shares during the last quarter. New York Life Investment Management LLC raised its position in Virtu Financial by 66.3% during the first quarter. New York Life Investment Management LLC now owns 25,344 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 10,105 shares during the last quarter. Finally, Simplicity Solutions LLC acquired a new position in Virtu Financial during the first quarter worth about $2,228,000. Institutional investors and hedge funds own 46.02% of the company’s stock.

Virtu Financial Company Profile

(Get Free Report)

Virtu Financial, Inc, a financial services company in New York. The company operates through two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology. The company's solutions enable clients to trade on various venues across countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrencies, and other commodities.