Futu (NASDAQ:FUTU) Issues Quarterly Earnings Results

Futu (NASDAQ:FUTU – Get Rating) announced its quarterly earnings data on Monday. The company reported $4.18 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.31, Fidelity Earnings reports. Futu had a return on equity of 15.41% and a net margin of 39.50%. During the same period in the previous year, the business posted $1.03 earnings per share.

Shares of Futu stock opened at $43.70 on Tuesday. The firm’s 50 day moving average is $33.20 and its 200 day moving average is $34.52. The firm has a market capitalization of $6.57 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. Futu has a 1 year low of $21.23 and a 1 year high of $181.44.

Large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Futu by 9.3% during the first quarter. BlackRock Inc. now owns 2,586,169 shares of the company’s stock valued at $84,204,000 after purchasing an additional 220,500 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Futu by 300.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 200,013 shares of the company’s stock worth $8,661,000 after buying an additional 150,046 shares during the period. Ergoteles LLC grew its holdings in Futu by 564.5% during the 1st quarter. Ergoteles LLC now owns 168,628 shares of the company’s stock worth $5,491,000 after acquiring an additional 143,252 shares during the last quarter. State Street Corp increased its position in Futu by 12.2% in the 4th quarter. State Street Corp now owns 1,025,485 shares of the company’s stock valued at $44,404,000 after acquiring an additional 111,308 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Futu by 54.6% during the fourth quarter. Millennium Management LLC now owns 157,048 shares of the company’s stock valued at $6,800,000 after acquiring an additional 55,483 shares during the last quarter. Institutional investors own 23.33% of the company’s stock.

Several analysts have issued reports on FUTU shares. Zacks Investment Research lowered Futu from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 25th. CLSA cut shares of Futu from an “underperform” rating to a “sell” rating and set a $27.00 price target on the stock. in a report on Monday. Citigroup reduced their price target on Futu from $79.00 to $46.50 in a research note on Monday, March 14th. TheStreet raised Futu from a “d+” rating to a “c” rating in a report on Monday, March 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Futu from $50.00 to $55.00 in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Futu has a consensus rating of “Hold” and an average target price of $92.25.

About Futu (Get Rating)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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