ITV (LON:ITV) Earns "Hold" Rating from Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reiterated its “Hold” rating on ITV and set an 85 GBX price target, implying approximately 15.2% upside from the prior close.
• JPMorgan also moved ITV to “Neutral” and cut its target from 104 GBX to 85 GBX, aligning with the current analyst consensus of “Hold” and an average target of 85 GBX.
• ITV shares opened at 73.80 GBX, while the company reported quarterly earnings of 2.20 GBX per share and disclosed insider sales by Chris Kennedy and Carolyn McCall.

ITV (LON:ITV - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Deutsche Bank Aktiengesellschaft in a research report issued on Monday,London Stock Exchange reports. They presently have a GBX 85 price target on the broadcaster's stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 15.18% from the stock's previous close.

Separately, JPMorgan Chase & Co. cut ITV to a "neutral" rating and dropped their price target for the company from GBX 104 to GBX 85 in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of GBX 85.

ITV Price Performance

Shares of LON:ITV opened at GBX 73.80 on Monday. ITV has a one year low of GBX 65.70 and a one year high of GBX 87.35. The company has a debt-to-equity ratio of 52.95, a current ratio of 1.18 and a quick ratio of 0.83. The company has a market cap of £2.76 billion, a price-to-earnings ratio of 12.72, a PEG ratio of -0.53 and a beta of 0.82. The firm has a 50 day simple moving average of GBX 78.69 and a 200 day simple moving average of GBX 79.54.

ITV (LON:ITV - Get Free Report) last posted its earnings results on Friday, July 31st. The broadcaster reported GBX 2.20 earnings per share for the quarter. ITV had a net margin of 6.57% and a return on equity of 13.15%. Research analysts predict that ITV will post 1120 earnings per share for the current fiscal year.

ITV declared that its Board of Directors has initiated a share repurchase plan on Friday, July 31st that allows the company to repurchase 0 shares. This repurchase authorization allows the broadcaster to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at ITV

In other ITV news, insider Chris Kennedy sold 396,282 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of GBX 78, for a total transaction of £309,099.96. Also, insider Carolyn McCall sold 652,363 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of GBX 78, for a total transaction of £508,843.14. 0.53% of the stock is owned by company insiders.

ITV Company Profile

ITV is a producer, streamer and broadcaster, consisting of ITV Studios and Media & Entertainment (M&E). ITV Studios is a scaled global creator, owner and distributor of high-quality TV content, producing some of the most successful shows in the world. It operates in 13 countries, across 60+ labels and is diversified by genre, geography and customer in the key creative markets around the world. Media & Entertainment is the largest commercial streamer and broadcaster. Through M&E, we make brilliant British-focused content available on ITVX - our free, advertiser-funded streaming service - alongside our free-to-air linear TV channels.

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