Virtu Financial’s Q3 2024 Earnings Estimates: A Comprehensive Overview
Analyst Projections
Zacks Research has revised its Q3 2024 earnings estimates for Virtu Financial, Inc. (VIRT) upwards. According to analyst K. Dey, Virtu is projected to earn $0.44 per share for the quarter, higher than the previous estimate of $0.43. This adjustment reflects optimism about the financial services provider’s performance.
Moreover, Zacks Research has provided earnings estimates for Virtu Financial’s future financial years:
- FY2024: $2.03 EPS
- Q1 2025: $0.67 EPS
- Q2 2025: $0.56 EPS
- Q3 2025: $0.55 EPS
- Q4 2025: $0.56 EPS
- FY2025: $2.34 EPS
Market Sentiment
Several equity research analysts have weighed in on Virtu Financial’s prospects. Here’s a summary of their opinions:
- Morgan Stanley: Raised target price to $20.00, “equal weight” rating
- Bank of America: Increased target price to $25.00, “buy” rating
- StockNews.com: Upgraded to “hold” rating
- Piper Sandler: Revised price objective to $25.00, “overweight” rating
- Citigroup: Boosted target price to $24.50, “buy” rating
Overall, the consensus among analysts is “Hold,” with an average target price of $22.24.
Key Metrics
Virtu Financial’s key financial metrics as of Friday, June 21st:
- Market capitalization: $3.64 billion
- P/E ratio: 16.21
- PEG ratio: 0.50
- Beta: 0.36
- Current ratio: 0.45
- Quick ratio: 0.45
- Debt-to-equity ratio: 1.21
Q1 2024 Results
In the recently reported first quarter of 2024, Virtu Financial exceeded expectations, posting earnings of $0.63 per share, $0.12 higher than analysts’ forecasts. Revenue also surpassed estimates, coming in at $366.87 million.
Dividend Information
Virtu Financial declared a quarterly dividend of $0.24 per share, paid on June 15th, 2024. The annualized dividend is $0.96, resulting in a dividend yield of 4.14%.
Institutional Holdings
Institutional investors have increased their stake in Virtu Financial. In the third quarter, Charles Schwab Investment Management Inc., HighTower Advisors LLC, DekaBank Deutsche Girozentrale, Envestnet Portfolio Solutions Inc., and Envestnet Asset Management Inc. all reported increased holdings in the company’s stock.
Conclusion
Zacks Research’s revised Q3 2024 earnings estimates and positive analyst sentiments suggest that Virtu Financial is well-positioned for growth. The company’s strong financial performance and attractive dividend yield make it a potential investment opportunity for investors seeking financial services exposure.