Qifu Technology Inc. (NASDAQ: QFIN) stock fell -4.35% on Monday to $14.97 against a previous-day closing price of $15.65. With 0.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. The 52-week range on QFIN shows that it touched its highest point at $25.49 and its lowest point at $9.47 during that stretch. It currently has a 1-year price target of $24.76. With its current market cap of 2.49 billion, QFIN has annualized dividend of $0.82 while the current yield stands at 5.48%. Beta for the stock currently stands at 0.55.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QFIN was down-trending over the past week, with a drop of -4.98%, but this was down by -7.88% over a month. Three-month performance dropped to -7.19% while six-month performance fell -11.32%. The stock gained 5.13% in the past year, while it has lost -26.47% so far this year. A look at the trailing 12-month EPS for QFIN yields 3.27 with Next year EPS estimates of 4.45. For the next quarter, that number is 1.06. This implies an EPS growth rate of -30.50% for this year and 17.70% for next year. EPS is expected to grow by 2.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 85.20%.
Float and Shares Shorts:
At present, 161.55 million QFIN shares are outstanding with a float of 153.65 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.37 million, which was 2.71% higher than short shares on Jul 30, 2023. In addition to Mr. Haisheng Wu as the firm’s CEO & Director, Mr. Zuoli Xu CFA serves as its CFO & Director.
Through their ownership of 73.43% of QFIN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.04% of QFIN, in contrast to 27.69% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in QFIN with 7.88% of the stake, OLP Capital Management Ltd. holds 12,820,355 shares worth 12,820,355. A second-largest stockholder of QFIN, Morgan Stanley Investment Managem, holds 7,446,918 shares, controlling over 4.57% of the firm’s shares. Morgan Stanley Asia Ltd. is the third largest shareholder in QFIN, holding 6,341,163 shares or 3.90% stake. With a 3.72% stake in QFIN, the Morgan Stanley Invt. Fds. – Asia is the largest stakeholder. A total of 6,052,174 shares are owned by the mutual fund manager. The Government Pension Fund – Global, which owns about 3.18% of QFIN stock, is the second-largest Mutual Fund holder. It holds 5,171,846 shares valued at 87.92 million. KraneShares CSI China Internet ET holds 3.17% of the stake in QFIN, owning 5,160,618 shares worth 87.73 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QFIN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With QFIN analysts setting a high price target of $210.04 and a low target of $133.10, the average target price over the next 12 months is $180.35. Based on these targets, QFIN could surge 1303.07% to reach the target high and rise by 789.11% to reach the target low. Reaching the average price target will result in a growth of 1104.74% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, QFIN has a current ratio of $0.82, which is $0.82 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and QFIN currently yields $3.34. In the past year, QFIN’s dividend yield has been $3.34. Accordingly, QFIN has a current buyback yield of $0.0. This was $0.0 for the TTM.