Virtu Financial (VIRT) Projected to Post Quarterly Earnings on Wednesday

Virtu Financial (NASDAQ:VIRT) is expected to announce its earnings results before the market opens on Wednesday, April 23rd. Analysts expect the company to announce earnings of $0.99 per share and revenue of $444.23 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a net margin of 9.61% and a return on equity of 27.39%. On average, analysts expect Virtu Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Virtu Financial Stock Up 1.7 %

VIRT stock opened at $38.46 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.13 and a quick ratio of 0.46. Virtu Financial has a 12 month low of $20.92 and a 12 month high of $41.38. The firm has a market capitalization of $5.96 billion, a PE ratio of 12.95, a P/E/G ratio of 1.43 and a beta of 0.71. The company’s 50 day simple moving average is $36.69 and its 200-day simple moving average is $36.00.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, February 28th. Virtu Financial’s dividend payout ratio (DPR) is presently 32.32%.

Insider Activity at Virtu Financial

In related news, EVP Stephen Cavoli sold 34,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $37.41, for a total transaction of $1,271,940.00. Following the completion of the sale, the executive vice president now owns 157,703 shares of the company’s stock, valued at approximately $5,899,669.23. This represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brett Fairclough sold 72,967 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total transaction of $2,688,104.28. Following the completion of the transaction, the chief operating officer now directly owns 90,749 shares in the company, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,967 shares of company stock worth $5,213,964. 46.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on VIRT. Piper Sandler upped their price objective on Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Bank of America reduced their target price on shares of Virtu Financial from $56.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Morgan Stanley downgraded shares of Virtu Financial from an “equal weight” rating to an “underweight” rating and set a $26.00 price target for the company. in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.21.

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.