Virtu Financial, Inc. (VIRT) To Go Ex-Dividend on June 1st

Virtu Financial, Inc. (NYSE:VIRT) announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Monday, June 1st will be given a dividend of 0.24 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st.

Virtu Financial has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Virtu Financial to earn $5.17 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 18.6%.

Virtu Financial Stock Up 2.8%

VIRT stock opened at $50.15 on Friday. The firm’s fifty day simple moving average is $48.92 and its 200-day simple moving average is $40.97. The company has a market capitalization of $7.78 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 1.23 and a beta of 0.62. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.48 and a quick ratio of 0.48. Virtu Financial has a 12 month low of $31.55 and a 12 month high of $56.48.

Virtu Financial (NYSE:VIRT) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.58. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The firm had revenue of $786.53 million for the quarter, compared to the consensus estimate of $613.12 million. During the same period in the prior year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. As a group, equities research analysts forecast that Virtu Financial will post 5.53 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on VIRT. Zacks Research raised shares of Virtu Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 8th. Morgan Stanley increased their price target on shares of Virtu Financial from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Weiss Ratings raised shares of Virtu Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. increased their price target on shares of Virtu Financial from $44.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Piper Sandler increased their price target on shares of Virtu Financial from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Virtu Financial has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.