ITV (LON:ITV) Trading Down 9.1% - Here's What Happened

Key Points

• Shares of ITV plc fell by 9.1%, trading as low as GBX 65.70 ($0.88), significantly increasing the trading volume to 774 million shares compared to the average of 22 million.
• Despite the decline, JPMorgan Chase & Co. upgraded their price target for ITV from GBX 110 to GBX 112, maintaining an "overweight" rating based on positive analyst sentiment.
• ITV reported GBX 1.80 earnings per share in its latest quarterly earnings, with analysts expecting a full-year estimate of 1120 earnings per share.

Shares of ITV plc (LON:ITV - Get Free Report) fell 9.1% on Wednesday . The stock traded as low as GBX 65.70 ($0.88) and last traded at GBX 67.75 ($0.91). 774,189,438 shares traded hands during trading, an increase of 3,379% from the average session volume of 22,250,230 shares. The stock had previously closed at GBX 74.55 ($1.00).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price target on ITV from GBX 110 to GBX 112 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, ITV currently has an average rating of "Buy" and an average price target of GBX 112.

ITV Trading Down 8.4%

The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of 46.00. The stock's fifty day moving average price is GBX 79.70 and its two-hundred day moving average price is GBX 79.17. The company has a market capitalization of £2.55 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of -0.53 and a beta of 1.44.

ITV (LON:ITV - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The broadcaster reported GBX 1.80 earnings per share for the quarter. ITV had a return on equity of 23.62% and a net margin of 12.11%. Sell-side analysts anticipate that ITV plc will post 1120 earnings per share for the current 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.

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