Lufax (LU) to Announce Quarterly Earnings on Thursday

Key Points

• Lufax is scheduled to report quarterly earnings before the market opens on Thursday, July 30, with analysts expecting $1.08 per share in earnings and $2.2232 billion in revenue.
• The stock has been under pressure, recently trading at $1.36, near its 52-week low of $1.20 and well below its 52-week high of $4.57.
• Wall Street sentiment remains cautious, with a consensus rating of “Reduce” and an average $2.00 price target from analysts.

Lufax (NYSE:LU - Get Free Report) is anticipated to announce its results before the market opens on Thursday, July 30th. Analysts expect Lufax to announce earnings of $1.08 per share and revenue of $2.2232 billion for the quarter.

Lufax Price Performance

LU stock opened at $1.36 on Thursday. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -1.75 and a beta of 0.79. The business's fifty day moving average price is $1.45 and its two-hundred day moving average price is $2.03. Lufax has a fifty-two week low of $1.20 and a fifty-two week high of $4.57.

Hedge Funds Weigh In On Lufax

A number of institutional investors and hedge funds have recently made changes to their positions in LU. Vanguard Group Inc. increased its position in Lufax by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company's stock valued at $50,342,000 after buying an additional 335,480 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lufax by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,802,005 shares of the company's stock worth $14,853,000 after acquiring an additional 240,225 shares in the last quarter. Norges Bank acquired a new stake in Lufax in the fourth quarter valued at approximately $8,067,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Lufax by 2,378.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company's stock valued at $6,049,000 after acquiring an additional 2,080,678 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Lufax by 82.5% during the third quarter. UBS Group AG now owns 1,571,180 shares of the company's stock valued at $6,379,000 after acquiring an additional 710,341 shares in the last quarter. Institutional investors own 69.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LU. JPMorgan Chase & Co. initiated coverage on shares of Lufax in a research note on Friday, April 17th. They issued a "neutral" rating and a $2.00 price target on the stock. Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lufax in a research note on Monday, May 18th. Finally, Zacks Research raised shares of Lufax to a "hold" rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $2.00.

Lufax Company Profile

Lufax NYSE: LU is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm's core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.

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