NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, today reported results for the third quarter ended September 30, 2024. Third Quarter 2024: Net income of $119.0 million; Normalized Adjusted Net Income1 of $132.1 millionBasic and diluted earnings per share of $0.65 and $0.64, respe ...

Core Viewpoint - Virtu Financial, Inc. is expected to report strong third-quarter 2024 results, with earnings per share estimated at 77 cents, reflecting a 71.1% increase year-over-year, driven by growth in net trading income and higher revenues from commissions and technology services [1][2]. Earnings Estimates - The Zacks Consensus Estimate for revenues is $373 million, indicating a 25.2% growth from the previous year [2]. - Over the past month, earnings estimates have seen three upward revisions and one downward revision, with an overall increase of 10% [2]. Earnings Surprise History - Virtu Financial has beaten consensus estimates in three of the last four quarters, with an average surprise of 9.87% [2]. Earnings ESP and Zacks Rank - The company has an Earnings ESP of +0.97%, with the most accurate estimate at 78 cents per share, higher than the consensus estimate [3]. - Virtu Financial currently holds a Zacks Rank of 2 (Buy) [3]. Key Factors Influencing Q3 Results - Expected growth in net trading income, higher commissions, and technology services revenues, along with increased interest and dividends income, are anticipated to positively impact the top line [3][4]. - The consensus estimate for overall net trading income is $341 million, reflecting a 7.9% year-over-year increase [3]. - Commissions and technology services are estimated at $120.1 million, indicating an 8.9% increase year-over-year [3]. - Interest and dividends income is pegged at $131.9 million, implying a 3.3% rise from the previous year [3]. Revenue Components - The Market Making segment's net trading income is estimated at $335.1 million, indicating a 7.9% year-over-year rise, while the Execution Services segment's net trading income is pegged at $5.8 million, reflecting a 4.7% growth [4]. Operating Expenses - Total operating expenses are estimated at $506.6 million, representing a 3% increase year-over-year, primarily due to elevated brokerage, exchange, and data processing costs [4]. Stock Performance and Valuation - Virtu Financial's shares have increased by 59.7% year-to-date, outperforming the industry and broader market indices [5]. - The stock is currently trading at 10.79X forward 12-month earnings, below the industry average of 15.16X, indicating a potentially attractive valuation [5].

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.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metr ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Virtu Financial, Inc. (VIRT) , a leading financial services company, is well-poised to grow on the back of its diversified business and rising interest and dividends income. High volatility favors the company's Market Making segment. Headquartered in New York, Virtu Financial has a market cap of $5.1 billion. Strong revenue contribution from the Market Making segment due to higher trading income will likely benefit the stock. We expect its capture rate from the unit to improve in the coming days, along with ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Virtu Financial (VIRT) , which belongs to the Zacks Financial - Miscellaneous Services industry. When looking at the last two reports, this high-speed trading company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 31.34%, on average, in the last two quarters. For the most recent quarter, Virtu Financial was ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuat ...

NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (Nasdaq:VIRT), a leading provider of global, multi-asset financial services that delivers liquidity and innovative, transparent products across the complete investment cycle to the global markets, will announce its results for the third quarter 2024 on Thursday, October 24, 2024, before the US market open. Virtu will host a conference call to discuss the company's financial results at 8:30 AM (EDT). A live webcast of the event will be availab ...

NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (Nasdaq:VIRT), a leading provider of global, multi-asset financial services that delivers liquidity and innovative, transparent products across the complete investment cycle to the global markets, is proud to announce that Trish McMenamin, Chief Compliance Officer, and Leah Goldsberry, EMEA Head of Analytics Client Coverage, have both been recognized at Markets Media's European Women in Finance Awards. Trish McMenamin received the Excellence ...

Core Viewpoint - Virtu Financial (VIRT) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][2]. Earnings Estimates and Stock Price Impact - The change in earnings estimates is a powerful factor affecting near-term stock price movements, as institutional investors rely on these estimates to determine fair value [3]. - An increase in earnings estimates typically leads to institutional buying, which drives stock prices higher [3]. Company Performance Indicators - For the fiscal year ending December 2024, Virtu Financial is projected to earn $2.96 per share, reflecting a 60.9% increase from the previous year [7]. - Over the past three months, the Zacks Consensus Estimate for Virtu Financial has risen by 18.8%, indicating a positive trend in earnings expectations [7]. Zacks Rating System - The Zacks Rank system classifies stocks based on earnings estimate revisions, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [6]. - The upgrade to Zacks Rank 2 places Virtu Financial in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [9].