Qifu Technology (QFIN) to Release Quarterly Earnings on Thursday

Qifu Technology (NASDAQ:QFIN) will be announcing its earnings results after the market closes on Thursday, November 16th. Analysts expect the company to announce earnings of $0.88 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Monday, August 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.05). The firm had revenue of $539.81 million during the quarter, compared to analysts’ expectations of $553.01 million. Qifu Technology had a return on equity of 20.07% and a net margin of 25.01%. On average, analysts expect Qifu Technology to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Qifu Technology Price Performance

Shares of QFIN opened at $15.43 on Thursday. The firm has a market cap of $2.49 billion, a P/E ratio of 4.57, a P/E/G ratio of 0.42 and a beta of 0.54. The stock has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $16.44. Qifu Technology has a 1 year low of $12.07 and a 1 year high of $25.49.

Qifu Technology Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, September 22nd were paid a dividend of $0.50 per share. This represents a dividend yield of 4.9%. The ex-dividend date was Thursday, September 21st. Qifu Technology’s dividend payout ratio (DPR) is presently 28.99%.

Hedge Funds Weigh In On Qifu Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in QFIN. Morgan Stanley raised its holdings in Qifu Technology by 2.1% in the fourth quarter. Morgan Stanley now owns 7,715,149 shares of the company’s stock worth $157,080,000 after purchasing an additional 161,496 shares in the last quarter. Vanguard Group Inc. raised its holdings in Qifu Technology by 2.6% in the first quarter. Vanguard Group Inc. now owns 4,975,876 shares of the company’s stock worth $76,579,000 after purchasing an additional 126,007 shares in the last quarter. BlackRock Inc. raised its holdings in Qifu Technology by 3.8% in the third quarter. BlackRock Inc. now owns 4,159,482 shares of the company’s stock worth $53,323,000 after purchasing an additional 151,973 shares in the last quarter. Norges Bank bought a new position in Qifu Technology in the fourth quarter worth $48,862,000. Finally, State Street Corp raised its holdings in Qifu Technology by 3.3% in the first quarter. State Street Corp now owns 1,812,492 shares of the company’s stock worth $27,894,000 after purchasing an additional 57,793 shares in the last quarter. Institutional investors own 64.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, CLSA dropped their price objective on Qifu Technology from $27.80 to $25.90 in a research note on Friday, September 1st.

About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.