Lufax Holding Ltd (NYSE: LU) Receives Consensus “Buy” Recommendation from Brokerages
Lufax Holding Ltd (NYSE: LU) shares have received an average “Buy” recommendation from the thirteen research companies that currently cover the company, reports MarketBeat.com. One analyst rated the stock with a sell recommendation, four issued a hold recommendation, and eight issued a buy recommendation on the company. The average one-year target price among brokers who have issued ratings on the stock in the past year is $ 15.85.
Several equity analysts have recently weighed on the company. Morgan Stanley downgraded Lufax from an ‘on par’ to an ‘overweight’ rating and lowered its target price for the stock from $ 14.80 to $ 13.00 in a research report released on Tuesday 10 August. Goldman Sachs group downgraded Lufax shares from a “buy” rating to a “neutral” rating and lowered its target price for the company from $ 20.30 to $ 9.80 in a report released on Monday August 2nd.
Institutional investors recently bought and sold shares in the company. American International Group Inc. purchased a new stake in shares of Lufax during the 1st quarter valued at approximately $ 32,000. Ensign Peak Advisors Inc increased its holdings of Lufax shares by 293.3% in the first quarter. Ensign Peak Advisors Inc now owns 11,800 shares of the company valued at $ 171,000 after purchasing an additional 8,800 shares in the last quarter. Marshall Wace LLP acquired a new equity interest in Lufax during the second quarter valued at approximately $ 134,000. Russell Investments Group Ltd. purchased a new stake in Lufax shares in the second quarter valued at approximately $ 150,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position from Lufax during the 2nd quarter valued at $ 237,000. Institutional investors hold 9.15% of the company’s shares.
Lufax stock opened at $ 7.38 on Thursday. The stock has a market cap of $ 18.17 billion and a P / E ratio of 7.94. Lufax has a minimum of $ 6.95 over 12 months and a maximum of $ 20.17 over 12 months. The company has a leverage ratio of 0.12, a current ratio of 1.54, and a quick ratio of 1.54. The company’s 50-day moving average is $ 8.15 and its two-hundred-day moving average is $ 11.13.
Lufax (NYSE: LU) last released its results on Monday, August 9. The company reported EPS of $ 0.29 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.23 of $ 0.06. Lufax had a net margin of 26.34% and a return on equity of 18.61%. The company posted revenue of $ 2.30 billion in the quarter, compared to $ 2.29 billion expected by analysts. As a group, analysts predict that Lufax will post 1.04 EPS for the current year.
Lufax Holding Ltd operates a technology-based personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer credit loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions.
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