360 DigiTech (NASDAQ:QFIN) Releases Quarterly Earnings Results

360 DigiTech (NASDAQ:QFINGet Rating) announced its earnings results on Tuesday. The company reported $7.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.29 by $0.39, Fidelity Earnings reports. 360 DigiTech had a return on equity of 43.82% and a net margin of 34.73%. During the same quarter last year, the firm earned $1.28 earnings per share.

Shares of NASDAQ QFIN opened at $13.60 on Thursday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 2.44 and a beta of 0.61. The stock has a 50 day moving average price of $14.58 and a 200 day moving average price of $18.63. 360 DigiTech has a 52-week low of $11.15 and a 52-week high of $45.00.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Wednesday, April 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, April 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 7.65%. 360 DigiTech’s payout ratio is 17.92%.

Several hedge funds and other institutional investors have recently made changes to their positions in QFIN. Baader Bank INC lifted its holdings in 360 DigiTech by 81.8% during the first quarter. Baader Bank INC now owns 20,000 shares of the company’s stock worth $308,000 after buying an additional 9,000 shares during the period. State Street Corp lifted its holdings in 360 DigiTech by 3.3% during the first quarter. State Street Corp now owns 1,812,492 shares of the company’s stock worth $27,894,000 after buying an additional 57,793 shares during the period. Ethic Inc. purchased a new stake in 360 DigiTech during the first quarter worth $290,000. Invesco Ltd. lifted its holdings in 360 DigiTech by 57.6% during the first quarter. Invesco Ltd. now owns 178,016 shares of the company’s stock worth $2,740,000 after buying an additional 65,077 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 360 DigiTech by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 180,333 shares of the company’s stock worth $2,776,000 after buying an additional 7,398 shares during the period. Hedge funds and other institutional investors own 48.85% of the company’s stock.

Several brokerages have issued reports on QFIN. Citigroup dropped their target price on 360 DigiTech from $35.15 to $26.78 in a research report on Monday, March 14th. Zacks Investment Research lowered 360 DigiTech from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $35.70.

360 DigiTech Company Profile (Get Rating)

360 DigiTech, Inc, through its subsidiaries, operates financial technology platform under the 360 Jietiao brand in the People's Republic of China. The company provides credit-driven services that matches borrowers with financial institution partners enabling financial institution partners to conduct customer acquisition, initial credit screening, advanced risk assessment, collection, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.

See Also

Earnings History for 360 DigiTech (NASDAQ:QFIN)

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