ITV (LON:ITV) Trading Up 13.3% on Analyst Upgrade

Key Points

• ITV plc's share price surged 13.3% after JPMorgan Chase & Co. upgraded their price target from GBX 110 to GBX 112.
• The stock traded at a high of GBX 88.20 ($1.19), showing significant trading volume that increased 19% from its average daily volume.
• ITV reported an earnings per share of GBX 1.80 ($0.02) for the last quarter, alongside a return on equity of 23.62%.

ITV plc (LON:ITV - Get Free Report) rose 13.3% 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 were traded 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 Stock Down 2.4%

The firm has a 50 day moving average price of GBX 80.29 and a 200-day moving average price of GBX 76.88. 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 cap 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.

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

About ITV

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.