Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives Average Rating of “Moderate Buy” from Analysts

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $162.8043.

Several brokerages recently commented on FUTU. Zacks Research downgraded shares of Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Wall Street Zen downgraded shares of Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. The Goldman Sachs Group downgraded shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a report on Monday, May 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th.

Futu Price Performance

Shares of FUTU opened at $97.54 on Friday. The firm has a 50-day moving average of $132.97 and a 200-day moving average of $150.01. Futu has a one year low of $80.50 and a one year high of $202.53. The company has a market cap of $13.67 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40.

Futu (NASDAQ:FUTU) last announced its earnings results on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $2.89 by ($2.12). The company had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. Analysts expect that Futu will post 8.95 earnings per share for the current year.

Futu Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were issued a $2.60 dividend. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is currently 28.05%.

Institutional Trading of Futu

A number of institutional investors have recently bought and sold shares of the business. Aspex Management HK Ltd boosted its holdings in Futu by 37.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock valued at $553,650,000 after purchasing an additional 919,724 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Futu by 7.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock valued at $288,720,000 after purchasing an additional 116,143 shares during the period. State Street Corp boosted its holdings in Futu by 18.4% in the 2nd quarter. State Street Corp now owns 1,212,481 shares of the company’s stock valued at $149,851,000 after purchasing an additional 188,840 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its position in shares of Futu by 14.0% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company’s stock valued at $186,513,000 after buying an additional 139,473 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Futu by 805.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after buying an additional 1,002,171 shares in the last quarter.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.