ITV (LON:ITV) Hits New 1-Year Low - Here's Why

Key Points

• ITV shares hit a new 52-week low of GBX 65.75 during Wednesday trading, below the 50-day and 200-day moving averages of GBX 70.61 and GBX 75.93, respectively.
• Analysts remain cautious: JPMorgan cut its price target to GBX 82, while the consensus rating is “Hold” with an average target of GBX 83.50.
• ITV reported quarterly EPS of GBX 2.20, with a 6.57% net margin and 13.15% return on equity; the company also authorized a buyback plan permitting the repurchase of zero shares.

ITV plc (LON:ITV - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as GBX 65.75 and last traded at GBX 65.75, with a volume of 10837306 shares changing hands. The stock had previously closed at GBX 67.05.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ITV shares. JPMorgan Chase & Co. lowered their price target on ITV from GBX 85 to GBX 82 and set a "neutral" rating on the stock in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 85 target price on shares of ITV in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of GBX 83.50.

ITV Stock Performance

The firm has a market cap of £2.41 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of -0.53 and a beta of 0.80. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 52.95. The stock's 50 day moving average is GBX 70.61 and its 200 day moving average is GBX 75.93.

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

ITV announced that its Board of Directors has authorized a stock buyback plan on Friday, July 31st that permits the company to buyback 0 shares. This buyback authorization permits the broadcaster to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

About ITV

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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