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

Lufax (NYSE:LU) 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 Price Performance

LU traded up $0.03 on Tuesday, reaching $8.51. The stock had a trading volume of 315,297 shares, compared to its average volume of 138,053. Lufax has a fifty-two week low of $8.01 and a fifty-two week high of $33.00. The firm has a 50-day moving average of $11.52 and a 200-day moving average of $17.58. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $737.56 million, a price-to-earnings ratio of -13.95 and a beta of 0.69.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LU shares. Zacks Research raised shares of Lufax from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $14.00 target price on shares of Lufax and gave the company a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded shares of Lufax from a “neutral” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Tuesday, July 28th. 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 company’s stock. According to MarketBeat.com, Lufax currently has a consensus rating of “Hold” and an average price target of $17.00.

Lufax Company Profile

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.