Futu (NASDAQ:FUTU) Releases Earnings Results

Futu (NASDAQ:FUTUGet Rating) issued its earnings results on Monday. The company reported $4.18 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.31, Fidelity Earnings reports. Futu had a net margin of 39.50% and a return on equity of 15.41%. During the same quarter in the previous year, the business earned $1.03 EPS.

Shares of FUTU opened at $43.70 on Tuesday. The firm has a 50-day moving average price of $33.20 and a 200 day moving average price of $34.52. The firm has a market capitalization of $6.57 billion, a PE ratio of 18.21, a P/E/G ratio of 2.95 and a beta of 0.82. Futu has a 52-week low of $21.23 and a 52-week high of $181.44.

FUTU has been the topic of a number of research reports. TheStreet raised shares of Futu from a “d+” rating to a “c” rating in a report on Monday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Futu from $50.00 to $55.00 in a report on Tuesday. Citigroup lowered their price target on shares of Futu from $79.00 to $46.50 in a research report on Monday, March 14th. CLSA lowered shares of Futu from an “underperform” rating to a “sell” rating and set a $27.00 price target for the company. in a research report on Monday. Finally, Zacks Investment Research lowered shares of Futu from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 25th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.25.

Institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in Futu by 6.1% in the 4th quarter. California State Teachers Retirement System now owns 69,097 shares of the company’s stock valued at $2,992,000 after buying an additional 3,955 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Futu by 15.3% during the 2nd quarter. Wells Fargo & Company MN now owns 7,536 shares of the company’s stock valued at $1,350,000 after purchasing an additional 1,001 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Futu by 15.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 28,268 shares of the company’s stock valued at $921,000 after purchasing an additional 3,800 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Futu by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 20,200 shares of the company’s stock valued at $875,000 after purchasing an additional 400 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of Futu by 134.0% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 23,876 shares of the company’s stock valued at $778,000 after purchasing an additional 13,671 shares in the last quarter. Hedge funds and other institutional investors own 23.33% of the company’s stock.

Futu Company Profile (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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Earnings History for Futu (NASDAQ:FUTU)

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