Virtu Guides Q2 EPS to $1.63, Below Earlier Pre-Announcement
VIRT sits 94% above its 52-week low of $31.55.
Summary
Virtu Financial guided Q2 EPS to $1.63, notably below the $1.82 Normalized Adjusted EPS pre-announced in an 8-K filed earlier today. The company also sees Q2 adjusted EPS of $1.82. The discrepancy suggests the pre-announcement included adjustments that inflated the headline number, and the GAAP or core EPS is weaker. This follows a strong Q1 and the earlier pre-announcement of $285M net income, but the lower guidance raises questions about the quality of those preliminary results. Traders will likely reassess the stock's valuation given the gap between the pre-announced and guided figures.
At the time of this announcement, VIRT was trading at $61.36 on NYSE in the Finance sector, with a market capitalization of approximately $10B. The 52-week trading range was $31.55 to $68.02. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.