ITV (LON:ITV) Shares Up 13.3% Following Analyst Upgrade

Key Points

• ITV plc shares surged by 13.3% following an upgrade from JPMorgan Chase & Co., raising their price target from GBX 110 to GBX 112.
• During mid-day trading, ITV stocks changed hands significantly, with a volume increase of 19% compared to the average session.
• ITV's latest earnings report revealed a net margin of 12.11% and a return on equity of 23.62%, indicating strong financial performance.

ITV plc (LON:ITV - Get Free Report)'s stock price was up 13.3% during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from GBX 110 to GBX 112. JPMorgan Chase & Co. currently has an overweight rating on the stock. ITV traded as high as GBX 88.20 ($1.19) and last traded at GBX 87.80 ($1.18). Approximately 26,037,814 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 21,910,465 shares. The stock had previously closed at GBX 77.50 ($1.04).

ITV Trading Down 2.4%

The company has a debt-to-equity ratio of 46.00, a current ratio of 1.56 and a quick ratio of 0.83. The firm has a market capitalization of £3.30 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of -0.53 and a beta of 1.44. The business's 50 day moving average price is GBX 80.29 and its 200-day moving average price is GBX 76.88.

ITV (LON:ITV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The broadcaster reported GBX 1.80 ($0.02) EPS for the quarter. ITV had a return on equity of 23.62% and a net margin of 12.11%. Equities analysts forecast that ITV plc will post 1120 EPS for the current fiscal year.

ITV Company Profile

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment. ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.