Virtu Financial Inc (NASDAQ:VIRT) Expected to Announce Quarterly Sales of $296.50 Million

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Wall Street brokerages expect Virtu Financial Inc (NASDAQ:VIRT) to announce sales of $296.50 million for the current quarter, Zacks reports. Two analysts have issued estimates for Virtu Financial’s earnings. The highest sales estimate is $310.00 million and the lowest is $283.00 million. Virtu Financial posted sales of $228.84 million in the same quarter last year, which suggests a positive year over year growth rate of 29.6%. The company is scheduled to report its next quarterly earnings results on Friday, May 1st.

According to Zacks, analysts expect that Virtu Financial will report full year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.11 billion. For the next financial year, analysts anticipate that the business will post sales of $1.15 billion, with estimates ranging from $1.12 billion to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Virtu Financial.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. Virtu Financial had a negative net margin of 3.83% and a positive return on equity of 13.64%. The business had revenue of $257.20 million for the quarter, compared to analyst estimates of $252.72 million. During the same quarter in the prior year, the business earned $0.67 EPS. Virtu Financial’s quarterly revenue was down 14.0% on a year-over-year basis.

A number of brokerages recently commented on VIRT. JPMorgan Chase & Co. upped their price target on shares of Virtu Financial from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. TheStreet lowered shares of Virtu Financial from a “c” rating to a “d+” rating in a research note on Tuesday, February 11th. Zacks Investment Research upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. UBS Group lowered shares of Virtu Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $17.00 in a research report on Friday, November 8th. Finally, BidaskClub upgraded shares of Virtu Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.44.

VIRT traded up $0.47 on Friday, reaching $18.29. The company had a trading volume of 866,708 shares, compared to its average volume of 1,189,406. Virtu Financial has a fifty-two week low of $14.94 and a fifty-two week high of $25.82. The stock has a market cap of $3.39 billion, a P/E ratio of -35.17, a P/E/G ratio of 2.45 and a beta of -0.56. The company’s fifty day moving average is $16.39 and its 200 day moving average is $17.15. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 0.72.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 5.25%. Virtu Financial’s dividend payout ratio is 157.38%.

A number of large investors have recently modified their holdings of VIRT. Ladenburg Thalmann Financial Services Inc. lifted its stake in Virtu Financial by 1,420.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,817 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 11,974 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Virtu Financial by 5.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 31,500 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,500 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Virtu Financial by 37.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 550,000 shares of the financial services provider’s stock valued at $8,998,000 after purchasing an additional 150,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Virtu Financial by 17.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 33,277 shares of the financial services provider’s stock valued at $544,000 after purchasing an additional 5,038 shares during the last quarter. Finally, Brinker Capital Inc. lifted its stake in Virtu Financial by 36.0% in the 3rd quarter. Brinker Capital Inc. now owns 43,493 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 11,514 shares during the last quarter. 66.43% of the stock is owned by institutional investors and hedge funds.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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Earnings History and Estimates for Virtu Financial (NASDAQ:VIRT)

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