360 DigiTech, Inc. (NASDAQ:QFIN) Expected to Announce Earnings of $1.33 Per Share

Equities analysts forecast that 360 DigiTech, Inc. (NASDAQ:QFIN) will post earnings of $1.33 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for 360 DigiTech’s earnings. 360 DigiTech posted earnings per share of $1.23 during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The firm is expected to announce its next earnings results on Thursday, November 18th.

On average, analysts expect that 360 DigiTech will report full-year earnings of $5.21 per share for the current year. For the next financial year, analysts anticipate that the firm will post earnings of $4.80 per share. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow 360 DigiTech.

360 DigiTech (NASDAQ:QFIN) last released its earnings results on Wednesday, August 18th. The company reported $10.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.52 by $2.51. 360 DigiTech had a net margin of 36.45% and a return on equity of 51.83%. The firm had revenue of $619.76 million for the quarter.

QFIN has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on 360 DigiTech from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, June 14th. Zacks Investment Research cut 360 DigiTech from a “buy” rating to a “hold” rating in a research report on Tuesday, August 17th. Citigroup reduced their target price on 360 DigiTech from $43.67 to $24.99 and set a “buy” rating for the company in a report on Monday, August 23rd. CLSA lowered their price target on 360 DigiTech from $39.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, August 2nd. Finally, TheStreet downgraded 360 DigiTech from a “b-” rating to a “c” rating in a report on Monday, July 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, 360 DigiTech has an average rating of “Buy” and an average target price of $34.60.

Several hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC bought a new position in shares of 360 DigiTech in the second quarter worth about $950,000. Marshall Wace North America L.P. raised its stake in 360 DigiTech by 22.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 20,795 shares of the company’s stock worth $870,000 after acquiring an additional 3,793 shares during the period. Morgan Stanley lifted its holdings in 360 DigiTech by 1.6% during the second quarter. Morgan Stanley now owns 8,651,001 shares of the company’s stock valued at $361,958,000 after purchasing an additional 135,715 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new position in shares of 360 DigiTech in the second quarter worth approximately $497,000. Finally, Oberweis Asset Management Inc. increased its stake in shares of 360 DigiTech by 25.0% in the second quarter. Oberweis Asset Management Inc. now owns 30,000 shares of the company’s stock worth $1,255,000 after purchasing an additional 6,000 shares in the last quarter. 49.30% of the stock is owned by hedge funds and other institutional investors.

QFIN traded down $1.23 during midday trading on Monday, reaching $19.54. The company’s stock had a trading volume of 3,217,794 shares, compared to its average volume of 3,347,299. The stock’s 50-day moving average is $23.08 and its 200-day moving average is $27.46. 360 DigiTech has a 1 year low of $9.67 and a 1 year high of $45.00. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 3.82 and a beta of 0.54.

360 DigiTech Company Profile

360 DigiTech, Inc is a holding company, which engages in the provision of digital consumer finance platform. It provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The company proprietary technology platform supports full transaction lifecycle from credit application through settlement.

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