Lufax (NYSE:LU) Now Covered by CICC Research

Equities researchers at CICC Research initiated coverage on shares of Lufax (NYSE:LUGet Rating) in a research note issued to investors on Monday, The Fly reports. The brokerage set an “outperform” rating on the stock.

Other research analysts have also issued research reports about the stock. Macquarie lowered shares of Lufax from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Wednesday, March 9th. Zacks Investment Research lowered shares of Lufax from a “buy” rating to a “hold” rating in a research note on Thursday, March 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.01.

NYSE:LU opened at $5.14 on Monday. The firm has a market cap of $12.66 billion, a P/E ratio of 4.94, a P/E/G ratio of 0.26 and a beta of -0.02. The firm has a 50-day simple moving average of $5.66 and a 200-day simple moving average of $5.84. Lufax has a one year low of $4.09 and a one year high of $13.04.

Lufax (NYSE:LUGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $2.48 billion during the quarter. Lufax had a net margin of 27.08% and a return on equity of 18.93%. During the same quarter last year, the firm earned $0.19 EPS. Sell-side analysts expect that Lufax will post 1.23 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc purchased a new stake in shares of Lufax in the 1st quarter valued at $64,000. QCM Cayman Ltd. purchased a new stake in Lufax during the first quarter worth $98,000. IFM Investors Pty Ltd purchased a new stake in Lufax during the first quarter worth $130,000. Gulf International Bank UK Ltd purchased a new stake in Lufax during the first quarter worth $501,000. Finally, Russell Investments Group Ltd. boosted its holdings in Lufax by 22.5% during the first quarter. Russell Investments Group Ltd. now owns 180,862 shares of the company’s stock worth $1,007,000 after buying an additional 33,245 shares in the last quarter. 24.59% of the stock is currently owned by institutional investors and hedge funds.

Lufax Company Profile (Get Rating)

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.

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