ITG (NASDAQ:ITG) Announces Quarterly Earnings Results

ITG (NASDAQ:ITG) issued its quarterly earnings results on Wednesday. The company reported $0.22 earnings per share for the quarter, FiscalAI reports. The company had revenue of $461.53 million for the quarter.

Here are the key takeaways from ITG’s conference call:

• Q3 revenue rose 49% year over year to a record, with growth across all business lines; adjusted EBITDA increased 63% and margin expanded 120 basis points to 14%. Management attributed results to organic growth, acquisitions, seasonal project activity, and data center work.
• Next Twelve Month Backlog reached $1.54 billion, up 27% year over year, with about $237 million in new awards during the quarter. Data center work remains a significant opportunity, with roughly $500 million of scoped backlog and additional bids outstanding, though new awards in that market were limited in Q3.
• Management maintained its 2026 growth outlook of 37% for both revenue and adjusted EBITDA, and said it remains confident in its previously communicated 2027 plans. The company cited new-customer wins and work moving from design into construction, while noting that project timing and customer authorizations can affect results.
• Free cash flow was notably negative in Q3, reflecting acquired working capital, seasonal work-in-progress growth, slower invoicing, and higher-than-planned capital spending. Management expects cash flow to improve in Q4 and says positive free cash flow is possible in 2027, but it has not yet provided a formal 2027 forecast.
• Fuel and healthcare costs are pressuring margins, and management said fuel inflation has not been fully recovered through customer pricing. It expects to pursue contract rate adjustments and operational efficiencies, but the timing and extent of any offset remain uncertain.

ITG Price Performance

Shares of NASDAQ ITG traded up $0.41 during midday trading on Friday, hitting $5.71. 801,083 shares of the company’s stock were exchanged, compared to its average volume of 524,505. The firm has a fifty day simple moving average of $8.07. The company has a market cap of $709.45 million and a P/E ratio of 71.44. ITG has a twelve month low of $4.11 and a twelve month high of $19.26. The company has a debt-to-equity ratio of 23.48, a quick ratio of 2.80 and a current ratio of 2.80.

Top ITG Stories

Investors following ITG have been watching these stories:

• Positive Sentiment: ITG reported a third-quarter loss, but adjusted EBITDA increased 64% and the company raised its fiscal 2026 outlook—an encouraging sign about operating performance and expectations. ITG Posts Q3 Loss; Adjusted EBITDA Up 64%; Lifts Fiscal 2026 Outlook
• Neutral Sentiment: Analysts continue to rate the shares positively despite reducing their targets: Truist cut its target to $11 from $14 and reaffirmed Buy, while Stifel lowered its target to $8 from $9 and maintained Buy. Truist Cuts Price Target on ITG to $11 From $14, Keeps Buy Rating
• Negative Sentiment: Other firms also reduced targets: Bank of America to $13 from $16, KeyCorp to $10 from $13, Baird to $10 from $14, and Morgan Stanley to $9 from $18. Their ratings remain Buy, Overweight, Outperform, and Overweight, respectively. The cuts suggest analysts have tempered expectations, even though their targets remain above the recent share price. Bank of America rating details

Analyst Ratings Changes

ITG has been the subject of a number of analyst reports. Wall Street Zen downgraded ITG from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Morgan Stanley reduced their target price on shares of ITG from $18.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday. Vertical Research assumed coverage on shares of ITG in a research report on Monday, July 27th. They issued a “buy” rating and a $20.00 price objective on the stock. KeyCorp reduced their price objective on shares of ITG from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Robert W. Baird decreased their price objective on shares of ITG from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.00.

Hedge Funds Weigh In On ITG

An institutional investor recently bought a new stake in ITG stock. State Street Corp bought a new stake in ITG Inc. (NASDAQ:ITG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 271,008 shares of the company’s stock, valued at approximately $2,107,000. State Street Corp owned approximately 0.22% of ITG at the end of the most recent quarter.

About ITG

Investment Technology Group, Inc. (ITG) was a financial technology and agency brokerage firm serving institutional investors. Its services included trade execution, execution algorithms, trading analytics and tools designed to help clients manage and evaluate their equity trading. ITG’s products included POSIT, an alternative trading system that matched buyers and sellers, and Triton, an execution management system. The company also provided transaction-cost analysis and related research to help clients assess trading performance.