TP ICAP Group (LON:TCAP) Posts Quarterly Earnings Results

Key Points

• TP ICAP Group reported quarterly earnings of GBX 17.60 ($0.24) per share, with a return on equity of 4.82% and a net margin of 4.54%.
• The company's stock opened at GBX 281.25 ($3.78) and has seen a fifty-two week range from GBX 217 ($2.92) to GBX 315 ($4.24).
• TP ICAP Group's board has authorized a stock buyback plan, indicating they believe the shares are undervalued.

TP ICAP Group (LON:TCAP - Get Free Report) released its quarterly earnings results on Wednesday. The company reported GBX 17.60 ($0.24) earnings per share for the quarter, Digital Look Earnings reports. TP ICAP Group had a net margin of 4.54% and a return on equity of 4.82%.

TP ICAP Group Stock Down 1.6%

TCAP traded down GBX 4.50 ($0.06) during midday trading on Tuesday, hitting GBX 280 ($3.76). The company had a trading volume of 1,619,556 shares, compared to its average volume of 3,042,828. The company has a market capitalization of £2.11 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.49 and a beta of 0.65. The stock's 50 day moving average price is GBX 283.77 and its 200 day moving average price is GBX 267.94. TP ICAP Group has a 52 week low of GBX 217 ($2.91) and a 52 week high of GBX 315 ($4.23).

Analyst Ratings Changes

A number of brokerages have issued reports on TCAP. Shore Capital restated a "buy" rating on shares of TP ICAP Group in a research report on Wednesday, August 6th. Canaccord Genuity Group increased their target price on shares of TP ICAP Group from GBX 326 ($4.38) to GBX 374 ($5.02) and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Insider Activity

In related news, insider Nicolas Breteau sold 362,282 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of GBX 261 ($3.51), for a total transaction of £945,556.02 ($1,270,055.10). Also, insider Robin Stewart sold 214,471 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of GBX 261 ($3.51), for a total transaction of £559,769.31 ($751,872.81). Insiders sold 795,571 shares of company stock worth $207,644,031 over the last three months. 0.57% of the stock is currently owned by insiders.

TP ICAP Group announced that its board has authorized a stock repurchase plan on Wednesday, August 6th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

About TP ICAP Group