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

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ITV. JPMorgan Chase & Co. decreased their price objective on shares of ITV from GBX 85 to GBX 82 and set a “neutral” rating for the company in a 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 report on Monday, August 3rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of GBX 83.50.

ITV Trading Down 1.9%

The firm has a market capitalization of £2.41 billion, a PE ratio of 10.78, a P/E/G ratio of -0.53 and a beta of 0.80. The firm has a 50 day simple moving average of GBX 70.61 and a 200 day simple moving average of GBX 75.93. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 52.95.

ITV (LON:ITV) last announced its quarterly earnings results on Friday, July 31st. The broadcaster reported GBX 2.20 earnings per share (EPS) for the quarter. ITV had a return on equity of 13.15% and a net margin of 6.57%. Equities analysts expect that ITV plc will post 1120 earnings per share for the current fiscal year.

ITV declared that its Board of Directors has authorized a share buyback program on Friday, July 31st that allows the company to repurchase 0 shares. This repurchase authorization allows the broadcaster to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

ITV Company Profile

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.