TP ICAP Group (LON:TCAP) Releases 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) posted its earnings results on Wednesday. The company reported GBX 17.60 ($0.24) earnings per share (EPS) 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 Trading Down 1.2%

Shares of LON:TCAP traded down GBX 3.50 ($0.05) during trading on Friday, reaching GBX 282.50 ($3.80). The company had a trading volume of 2,502,420 shares, compared to its average volume of 3,060,495. The company has a fifty day moving average of GBX 283.34 and a two-hundred day moving average of GBX 267.85. The stock has a market capitalization of £2.13 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 0.49 and a beta of 0.65. TP ICAP Group has a 12 month low of GBX 217 ($2.92) and a 12 month high of GBX 315 ($4.24).

TP ICAP Group declared that its Board of Directors has approved a share buyback program on Wednesday, August 6th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on TCAP shares. Canaccord Genuity Group increased their target price on shares of TP ICAP Group from GBX 326 ($4.38) to GBX 374 ($5.03) and gave the stock a "buy" rating in a research note on Thursday, July 31st. Shore Capital reiterated a "buy" rating on shares of TP ICAP Group in a research note on Wednesday.

Insider Transactions at TP ICAP Group

In other news, insider Robin Stewart sold 214,471 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 value of £559,769.31 ($752,580.41). Also, insider Nicolas Breteau sold 362,282 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of GBX 261 ($3.51), for a total transaction of £945,556.02 ($1,271,250.36). Insiders have sold 795,571 shares of company stock valued at $207,644,031 in the last quarter. Insiders own 0.57% of the company's stock.

About TP ICAP Group