Futu (NASDAQ:FUTU) Posts Earnings Results, Misses Estimates By $2.76 EPS

Futu (NASDAQ:FUTU) issued its earnings results on Tuesday. The company reported $4.14 EPS for the quarter, missing the Zacks’ consensus estimate of $6.90 by ($2.76), Fidelity Earnings reports. Futu had a net margin of 44.47% and a return on equity of 20.44%. During the same quarter in the previous year, the company posted $0.39 earnings per share.

NASDAQ:FUTU traded up $0.14 during mid-day trading on Thursday, hitting $54.45. The stock had a trading volume of 5,213,877 shares, compared to its average volume of 7,591,552. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 0.47 and a beta of 0.93. The company has a 50 day simple moving average of $72.24 and a 200-day simple moving average of $107.69. Futu has a 52 week low of $36.63 and a 52 week high of $204.25.

FUTU has been the topic of a number of research reports. Bank of America downgraded shares of Futu from a “buy” rating to an “underperform” rating and cut their target price for the company from $156.00 to $66.00 in a research note on Friday, October 15th. Zacks Investment Research raised shares of Futu from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 2nd. Morgan Stanley lowered shares of Futu from an “overweight” rating to an “equal weight” rating in a report on Friday, October 29th. BOCOM International lowered shares of Futu from a “buy” rating to a “neutral” rating in a report on Monday, November 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Futu in a report on Monday, October 18th. They set an “overweight” rating and a $114.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $164.21.

An institutional investor recently raised its position in Futu stock. Wells Fargo & Company MN grew its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,536 shares of the company’s stock after buying an additional 1,001 shares during the quarter. Wells Fargo & Company MN’s holdings in Futu were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 21.77% of the company’s stock.

Futu Company Profile

Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.

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Earnings History for Futu (NASDAQ:FUTU)

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