Q3 2024 Earnings Forecast for Virtu Financial, Inc. (NASDAQ:VIRT) Issued By Zacks Research

Virtu Financial, Inc. (NASDAQ:VIRT) – Research analysts at Zacks Research lifted their Q3 2024 EPS estimates for shares of Virtu Financial in a research note issued on Tuesday, June 18th. Zacks Research analyst K. Dey now expects that the financial services provider will post earnings of $0.44 per share for the quarter, up from their prior estimate of $0.43. The consensus estimate for Virtu Financial’s current full-year earnings is $2.08 per share. Zacks Research also issued estimates for Virtu Financial’s FY2024 earnings at $2.03 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.34 EPS.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Virtu Financial from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Virtu Financial from $19.20 to $21.70 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Citigroup upped their price objective on Virtu Financial from $22.50 to $24.50 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their target price on Virtu Financial from $20.00 to $21.50 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Virtu Financial has a consensus rating of “Hold” and a consensus target price of $22.24.

Virtu Financial Trading Down 0.7 %

VIRT stock opened at $23.02 on Friday. The firm has a market cap of $3.62 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.50 and a beta of 0.36. The firm has a fifty day moving average price of $22.56 and a 200 day moving average price of $20.25. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.45. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $25.68.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $366.87 million for the quarter, compared to analysts’ expectations of $334.79 million. Virtu Financial had a return on equity of 17.33% and a net margin of 6.04%.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, May 31st. Virtu Financial’s dividend payout ratio (DPR) is currently 67.13%.

Institutional Trading of Virtu Financial

Institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Virtu Financial by 131.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 84,802 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 48,127 shares during the period. 1834 Investment Advisors Co. grew its position in Virtu Financial by 913.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 306,289 shares of the financial services provider’s stock valued at $6,205,000 after acquiring an additional 276,071 shares during the last quarter. Norges Bank purchased a new stake in Virtu Financial in the fourth quarter worth $12,575,000. Nebula Research & Development LLC purchased a new stake in Virtu Financial in the fourth quarter worth $1,478,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Virtu Financial by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,418 shares of the financial services provider’s stock worth $22,760,000 after purchasing an additional 86,313 shares during the last quarter. Institutional investors own 45.78% of the company’s stock.

About Virtu Financial

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.