Jefferies Financial Group Cuts Qfin (NASDAQ:QFIN) Price Target to $23.40
by Danessa Lincoln · The Markets DailyQfin (NASDAQ:QFIN – Free Report) had its target price trimmed by Jefferies Financial Group from $30.30 to $23.40 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other analysts have also recently issued reports on QFIN. JPMorgan Chase & Co. cut Qfin from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $21.00 in a report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Qfin presently has a consensus rating of “Hold” and a consensus price target of $32.37.
Get Our Latest Analysis on Qfin
Qfin Stock Up 1.8%
NASDAQ QFIN opened at $13.29 on Wednesday. Qfin has a 12 month low of $12.68 and a 12 month high of $48.94. The company has a current ratio of 2.43, a quick ratio of 2.94 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.89 billion, a PE ratio of 2.16, a P/E/G ratio of 0.19 and a beta of 0.49. The stock’s 50 day moving average is $15.36 and its 200 day moving average is $20.80.
Qfin (NASDAQ:QFIN – Get Free Report) last posted its earnings results on Tuesday, March 17th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). The company had revenue of $585.10 million for the quarter, compared to analysts’ expectations of $664.95 million. Qfin had a net margin of 31.13% and a return on equity of 24.97%. Research analysts predict that Qfin will post 5.71 EPS for the current fiscal year.
Qfin Announces Dividend
The firm also recently declared a dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, April 22nd. This represents a dividend yield of 1,143.0%. Qfin’s dividend payout ratio is currently 25.32%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin during the 1st quarter worth approximately $29,000. Rexford Capital Inc. purchased a new stake in Qfin in the second quarter valued at approximately $78,000. SBI Securities Co. Ltd. raised its position in Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Qfin by 415.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock worth $51,000 after purchasing an additional 2,125 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Qfin by 32.6% during the second quarter. PNC Financial Services Group Inc. now owns 3,147 shares of the company’s stock worth $136,000 after buying an additional 774 shares during the period. Institutional investors and hedge funds 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.