Virtu Financial (NASDAQ:VIRT) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. The firm had revenue of $177.92 million for the quarter, compared to the consensus estimate of $171.99 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year.
VIRT opened at $25.59 on Thursday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 3.50 and a beta of -0.95. Virtu Financial has a fifty-two week low of $14.98 and a fifty-two week high of $37.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.65 and a current ratio of 0.65.
VIRT has been the topic of a number of recent research reports. Citigroup decreased their price target on shares of Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating on the stock in a research note on Wednesday, July 18th. ValuEngine upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price target on shares of Virtu Financial in a research note on Monday, July 30th. Sandler O’Neill reiterated a “buy” rating and set a $27.00 price target on shares of Virtu Financial in a research note on Friday, July 27th. Finally, Morgan Stanley initiated coverage on shares of Virtu Financial in a research note on Wednesday, August 8th. They set an “equal weight” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Virtu Financial has an average rating of “Hold” and an average price target of $30.09.
TRADEMARK VIOLATION WARNING: This piece was published by WKRB News and is the sole property of of WKRB News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.wkrb13.com/2018/11/07/virtu-financial-virt-announces-earnings-results.html.
About Virtu Financial
Virtu Financial, Inc engages in the business of buying and selling of securities and other financial instruments. It offers market making and trading solutions. The company was founded by Vincent Viola in 2008 and is headquartered in New York, NY.
Further Reading: What is a bull market?
Receive News & Ratings for Virtu Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtu Financial and related companies with MarketBeat.com's FREE daily email newsletter.