TP ICAP Group (LON:TCAP) Shares Down 1.3% - What's Next?

Key Points

• TP ICAP Group's stock price decreased by 1.3% to GBX 273.50 ($3.68), with trading volume falling 11% below the average daily volume.
• Analysts maintain a generally positive outlook with an average rating of "Buy" and a consensus target price of GBX 374, indicating potential upside.
• The company has announced a share buyback plan, reflecting the board's belief that the stock is undervalued.

TP ICAP Group PLC (LON:TCAP - Get Free Report)'s share price was down 1.3% on Friday . The company traded as low as GBX 271.50 ($3.66) and last traded at GBX 273.50 ($3.68). Approximately 2,812,049 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 3,164,259 shares. The stock had previously closed at GBX 277 ($3.73).

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TCAP. Shore Capital reiterated a "buy" rating on shares of TP ICAP Group in a research report on Wednesday, August 6th. Canaccord Genuity Group raised their price objective on shares of TP ICAP Group from GBX 326 to GBX 374 and gave the company a "buy" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, TP ICAP Group currently has an average rating of "Buy" and a consensus price target of GBX 374.

TP ICAP Group Trading Down 1.3%

The stock's 50 day moving average is GBX 288.91 and its 200 day moving average is GBX 270.64. The stock has a market capitalization of £2.05 billion, a price-to-earnings ratio of 1,215.56, a PEG ratio of 0.49 and a beta of 0.65.

TP ICAP Group (LON:TCAP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported GBX 17.60 EPS for the quarter. TP ICAP Group had a net margin of 4.54% and a return on equity of 4.82%. On average, sell-side analysts anticipate that TP ICAP Group PLC will post 31.0273973 EPS for the current year.

TP ICAP Group declared that its board has authorized a share buyback program on Wednesday, August 6th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

TP ICAP Group Company Profile