Brokerages Anticipate Investment Technology Group, Inc. (ITG) to Announce $0.02 EPS

Analysts expect Investment Technology Group, Inc. (NYSE:ITG) to post $0.02 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Investment Technology Group’s earnings. Investment Technology Group posted earnings per share of ($0.08) during the same quarter last year, which would indicate a positive year-over-year growth rate of 125%. The company is scheduled to announce its next earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that Investment Technology Group will report full-year earnings of $0.49 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will report earnings of $1.26 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Investment Technology Group.

Investment Technology Group (NYSE:ITG) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). Investment Technology Group had a positive return on equity of 3.08% and a negative net margin of 1.77%. The business had revenue of $121.60 million during the quarter, compared to analyst estimates of $124.00 million. During the same period in the previous year, the company earned ($0.02) EPS. Investment Technology Group’s revenue was up .8% on a year-over-year basis.

ITG has been the subject of a number of analyst reports. TheStreet upgraded shares of Investment Technology Group from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Investment Technology Group from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of Investment Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Rosenblatt Securities initiated coverage on shares of Investment Technology Group in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $21.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Investment Technology Group currently has an average rating of “Hold” and an average price target of $22.00.

Investment Technology Group (ITG) traded up 0.88% during midday trading on Friday, hitting $22.86. 268,328 shares of the stock traded hands. Investment Technology Group has a 1-year low of $15.04 and a 1-year high of $23.02. The company has a 50-day moving average price of $20.72 and a 200-day moving average price of $20.69. The firm’s market cap is $757.26 million.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, August 18th. Investment Technology Group’s dividend payout ratio is -107.69%.

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Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in shares of Investment Technology Group by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 6,188 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 2,698 shares during the period. Mason Street Advisors LLC raised its position in shares of Investment Technology Group by 9.2% in the first quarter. Mason Street Advisors LLC now owns 7,384 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 623 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of Investment Technology Group in the second quarter valued at approximately $159,000. SG Americas Securities LLC raised its position in shares of Investment Technology Group by 8.6% in the first quarter. SG Americas Securities LLC now owns 11,308 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 893 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Investment Technology Group by 3.6% in the first quarter. BNP Paribas Arbitrage SA now owns 15,131 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 519 shares during the period. 87.64% of the stock is currently owned by institutional investors.

About Investment Technology Group

Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.

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