XP (NASDAQ:XP) Announces Earnings Results

XP (NASDAQ:XP) posted its quarterly earnings data on Monday. The company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48, FiscalAI reports. The company had revenue of $899.85 million for the quarter, compared to analyst estimates of $932.20 million. XP had a return on equity of 23.08% and a net margin of 27.51%.

XP Trading Down 0.7%

NASDAQ XP traded down $0.13 on Monday, reaching $17.34. The company had a trading volume of 10,044,406 shares, compared to its average volume of 6,159,333. The stock’s 50 day moving average is $19.21 and its 200-day moving average is $18.84. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.56 and a beta of 1.17. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. XP has a 52 week low of $15.61 and a 52 week high of $23.13.

Wall Street Analysts Forecast Growth

A number of research firms have commented on XP. UBS Group boosted their price objective on XP from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings lowered XP from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Zacks Research downgraded XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group began coverage on XP in a research report on Monday, January 19th. They set a “buy” rating and a $22.00 target price for the company. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, XP presently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Institutional Investors Weigh In On XP

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas increased its holdings in XP by 21.4% in the third quarter. Employees Retirement System of Texas now owns 60,248 shares of the company’s stock valued at $1,132,000 after purchasing an additional 10,612 shares during the last quarter. Vestcor Inc bought a new stake in XP in the third quarter valued at about $64,000. Victory Capital Management Inc. bought a new stake in XP in the third quarter valued at about $400,000. Intech Investment Management LLC bought a new stake in shares of XP in the third quarter worth about $310,000. Finally, Merit Financial Group LLC increased its holdings in shares of XP by 18.0% in the third quarter. Merit Financial Group LLC now owns 15,919 shares of the company’s stock worth $299,000 after acquiring an additional 2,426 shares in the last quarter. Institutional investors own 59.15% of the company’s stock.

About XP

XP Inc provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients.