Lufax (NYSE:LU) Posts Quarterly Earnings Results, Misses Estimates By $11.08 EPS

Key Points

• Lufax reported a quarterly loss of $0.27 per share, missing the consensus estimate of $10.81 by $11.08.
• The stock rose 0.4% to $8.51, but remains sharply below its 12-month high of $33.00 and its 50- and 200-day moving averages.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $17.00 price target; ratings range from Buy to Sell.

Lufax (NYSE:LU - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $10.81 by ($11.08), Zacks reports.

Lufax Stock Up 0.4%

LU traded up $0.03 during trading on Tuesday, reaching $8.51. The company had a trading volume of 315,297 shares, compared to its average volume of 138,053. The company has a market cap of $737.56 million, a P/E ratio of -13.95 and a beta of 0.69. Lufax has a 12 month low of $8.01 and a 12 month high of $33.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The business's fifty day moving average price is $11.52 and its 200 day moving average price is $17.58.

Analyst Ratings Changes

Several brokerages recently commented on LU. JPMorgan Chase & Co. raised Lufax from a "neutral" rating to an "overweight" rating and set a $20.00 price objective on the stock in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $14.00 target price on Lufax and gave the company a "hold" rating in a research note on Thursday, August 27th. Wall Street Zen downgraded Lufax from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Zacks Research upgraded Lufax from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lufax in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $17.00.

About Lufax

Lufax Holding Ltd. NYSE: LU is a China-based financial services technology company that operates digital platforms for retail and small-business finance. The company connects consumers and small-business owners with financial products and services through online channels and technology-enabled processes.

Lufax's business has historically included retail lending, wealth management and related financial services. Its platforms have provided access to consumer and small-business loans, investment products and other services offered in cooperation with financial institutions.

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