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

Virtu Financial (NASDAQ:VIRT) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.32, Zacks reports. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%.

Virtu Financial Trading Up 0.5 %

NASDAQ:VIRT opened at $39.13 on Wednesday. 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 stock has a market capitalization of $6.05 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 0.49 and a beta of 0.45. The business’s 50-day simple moving average is $36.64 and its 200-day simple moving average is $32.86. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $40.00.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, November 29th. Virtu Financial’s dividend payout ratio is currently 48.24%.

Analyst Upgrades and Downgrades

VIRT has been the subject of several research reports. Citigroup lifted their target price on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley boosted their price objective on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler boosted their price target on shares of Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Bank of America reduced their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.