Qfin (NASDAQ:QFIN) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Qfin (NASDAQ:QFIN) announced its quarterly earnings data on Tuesday. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01), Zacks reports. Qfin had a return on equity of 28.73% and a net margin of 35.09%.The company had revenue of $585.10 million for the quarter, compared to analyst estimates of $664.95 million.

Qfin Trading Up 3.6%

QFIN opened at $14.43 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94. Qfin has a one year low of $13.81 and a one year high of $48.94. The company has a market cap of $2.05 billion, a P/E ratio of 2.10, a PEG ratio of 0.21 and a beta of 0.49. The business’s 50-day simple moving average is $15.65 and its 200-day simple moving average is $21.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QFIN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Qfin in a research note on Monday, December 29th. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lowered shares of Qfin from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $45.00 to $21.00 in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.85.

Hedge Funds Weigh In On Qfin

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of Qfin by 415.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after buying an additional 2,125 shares during the last quarter. Parallel Advisors LLC raised its stake in Qfin by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after acquiring an additional 656 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Qfin by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock valued at $103,000 after acquiring an additional 1,016 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Qfin by 14.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock valued at $108,000 after acquiring an additional 700 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

About Qfin

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.