Qfin (NASDAQ:QFIN) Issues Earnings Results

Key Points

• Qfin reported quarterly earnings of $1.78 per share, which was below the consensus estimate of $1.83.
• The company has a robust return on equity of 29.73% and a net margin of 38.99%, indicating strong operational performance.
• Institutional ownership is high, with 74.81% of Qfin stock held by institutional investors.

Qfin (NASDAQ:QFIN - Get Free Report) released its earnings results on Thursday. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01), Zacks reports. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a return on equity of 29.73% and a net margin of 38.99%.

Qfin Stock Performance

Shares of NASDAQ:QFIN opened at $33.30 on Friday. The company's 50 day simple moving average is $40.03 and its 200 day simple moving average is $41.16. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 0.43 and a beta of 0.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.08 and a quick ratio of 3.08. Qfin has a 1 year low of $23.49 and a 1 year high of $48.94.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QFIN. Wall Street Zen cut Qfin from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. began coverage on Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QFIN. Goldman Sachs Group Inc. increased its position in shares of Qfin by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock worth $72,028,000 after acquiring an additional 395,589 shares in the last quarter. California State Teachers Retirement System grew its position in Qfin by 333.8% in the 2nd quarter. California State Teachers Retirement System now owns 34,810 shares of the company's stock worth $1,509,000 after purchasing an additional 26,786 shares in the last quarter. Royal Bank of Canada grew its position in Qfin by 51.7% in the 1st quarter. Royal Bank of Canada now owns 6,508 shares of the company's stock worth $293,000 after purchasing an additional 2,219 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin in the 1st quarter worth about $29,000. 74.81% of the stock is owned by institutional investors.

Qfin Company Profile

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.