ITV (LON:ITV) Share Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• ITV shares fell below their 200-day moving average, trading as low as GBX 66.15 versus the average of GBX 76.03, with the latest price at GBX 66.40.
• Analysts remain cautious: Deutsche Bank maintained a “Hold” rating, while JPMorgan cut its target from GBX 85 to GBX 82. The consensus rating is “Hold,” with an average price target of GBX 83.50.
• ITV reported quarterly earnings of GBX 2.20 per share, a 6.57% net margin and 13.15% return on equity; the company’s reported share buyback authorization permits repurchases of zero shares.

ITV plc (LON:ITV - Get Free Report) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 76.03 and traded as low as GBX 66.15. ITV shares last traded at GBX 66.40, with a volume of 7,083,741 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 85 price objective on shares of ITV in a report on Monday, August 3rd. JPMorgan Chase & Co. reduced their price target on shares of ITV from GBX 85 to GBX 82 and set a "neutral" rating on the stock in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of GBX 83.50.

ITV Price Performance

The company has a debt-to-equity ratio of 52.95, a quick ratio of 0.83 and a current ratio of 1.18. The company's fifty day moving average price is GBX 70.76 and its 200 day moving average price is GBX 76.03. The firm has a market capitalization of £2.45 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of -0.53 and a beta of 0.80.

ITV (LON:ITV - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts expect that ITV plc will post 1120 earnings per share for the current year.

ITV announced that its board has authorized a share buyback program on Friday, July 31st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the broadcaster to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are 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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