Qfin (NASDAQ:QFIN) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
by Tristan Rich · The Markets DailyQfin (NASDAQ:QFIN – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01), Zacks reports. Qfin had a return on equity of 28.73% and a net margin of 35.09%.The business had revenue of $585.10 million during the quarter, compared to analysts’ expectations of $664.95 million.
Qfin Price Performance
QFIN stock traded down $0.12 during trading on Wednesday, hitting $14.31. The stock had a trading volume of 619,260 shares, compared to its average volume of 1,545,661. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 2.10, a price-to-earnings-growth ratio of 0.21 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. The company’s 50 day moving average price is $15.65 and its two-hundred day moving average price is $21.02. Qfin has a 1-year low of $13.51 and a 1-year high of $48.94.
Wall Street Analyst Weigh In
QFIN has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lowered Qfin from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $21.00 in a research note on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Qfin presently has an average rating of “Hold” and a consensus target price of $36.85.
Read Our Latest Research Report on Qfin
Hedge Funds Weigh In On Qfin
Several institutional investors and hedge funds have recently modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its holdings in Qfin by 415.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after acquiring an additional 2,125 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after purchasing an additional 656 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Qfin by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after purchasing an additional 1,016 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Qfin by 14.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock worth $108,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.
About Qfin
360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.
The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.