NU (NYSE:NU) Releases Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• NU (NYSE:NU) reported an earnings per share (EPS) of $0.14, exceeding analysts' expectations of $0.12.
• The company generated $3.70 billion in revenue for the quarter, although this was below the anticipated $3.78 billion.
• Several analysts have raised their price targets for NU stock, with forecasts suggesting a consensus target of $15.50, indicating a general positive outlook on the company's performance.

NU (NYSE:NU - Get Free Report) announced its earnings results on Thursday. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02, Zacks reports. NU had a return on equity of 30.77% and a net margin of 17.88%. The company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the firm earned $0.12 EPS.

NU Price Performance

NU stock traded up $1.07 during mid-day trading on Friday, reaching $13.08. The company's stock had a trading volume of 130,453,068 shares, compared to its average volume of 56,912,953. The stock has a market cap of $63.03 billion, a PE ratio of 30.42, a P/E/G ratio of 0.70 and a beta of 1.05. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. NU has a fifty-two week low of $9.01 and a fifty-two week high of $16.15. The company's 50 day moving average is $12.75 and its two-hundred day moving average is $12.16.

Institutional Trading of NU

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC purchased a new stake in shares of NU during the 2nd quarter worth $2,400,000. Orion Porfolio Solutions LLC increased its stake in NU by 8.7% in the second quarter. Orion Porfolio Solutions LLC now owns 149,816 shares of the company's stock valued at $2,055,000 after purchasing an additional 11,938 shares during the period. Hudson Bay Capital Management LP acquired a new position in NU in the second quarter valued at $1,603,000. CTC Alternative Strategies Ltd. acquired a new position in NU in the second quarter valued at $1,344,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of NU in the second quarter valued at about $658,000. Institutional investors and hedge funds own 84.02% of the company's stock.

Wall Street Analysts Forecast Growth

NU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Susquehanna lifted their price target on NU from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Wednesday, May 14th. Barclays boosted their target price on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.

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