VIRT's financial flexibility enables it to take shareholder-friendly moves.
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Investors interested in Financial - Miscellaneous Services stocks are likely familiar with Virtu Financial (VIRT) and Blackstone Inc. (BX). But which of these two companies is the best option for those looking for undervalued stocks?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Virtu Financial (VIRT) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Virtu Financial remains a top hedge, benefiting from market volatility and volume events, while offering shareholder returns through dividends and buybacks. Despite a negative hit in Q3, Virtu trades significantly below intrinsic value, maintaining a large margin of safety. The business model is low maintenance, with stable profit margins and predictable performance, making it a reliable portfolio addition.
VIRT's third-quarter results benefit from rising commissions, net and technology services. This was partially offset by rising expenses.
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Virtu Financial, Inc. (NASDAQ:VIRT ) Q3 2024 Results Conference Call October 24, 2024 8:30 AM ET Company Participants Andrew Smith - Investor and Media Relations Douglas Cifu - Chief Executive Officer Joseph Molluso - Co President & Co Chief Operating Officer Cindy Lee - Chief Financial Officer Conference Call Participants Kenneth Worthington - JPMorgan Securities Craig Siegenthaler - Bank of America Chris Allen - Citi Patrick Moley - Piper Sandler Dan Fannon - Jefferies Operator Good day, and thank you for standing by. Welcome to the Virtu Financial 2024 Third Quarter Results Conference Call.
Virtu Financial (VIRT) came out with quarterly earnings of $0.82 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.45 per share a year ago.
VIRT's third-quarter results are likely to reflect the benefits of improved interest and dividends income, along with higher commissions and technology services revenues.