ITV (LON:ITV) Sets New 52-Week Low – Here’s Why

ITV plc (LON:ITV)’s share price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as GBX 65.70 and last traded at GBX 65.90, with a volume of 2,196,688 shares trading hands. The stock had previously closed at GBX 66.25.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 85 target price on shares of ITV in a research note on Monday, August 3rd. JPMorgan Chase & Co. reduced their price target on shares of ITV from GBX 85 to GBX 82 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of GBX 83.50.

ITV Stock Down 1.4%

The company has a market capitalization of £2.40 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of -0.53 and a beta of 0.80. The company has a debt-to-equity ratio of 52.95, a current ratio of 1.18 and a quick ratio of 0.83. The firm’s fifty day moving average price is GBX 69.70 and its 200-day moving average price is GBX 75.47.

ITV (LON:ITV) last released its quarterly earnings data on Friday, July 31st. The broadcaster reported GBX 2.20 earnings per share for the quarter. ITV had a return on equity of 13.15% and a net margin of 6.57%. Sell-side analysts expect that ITV plc will post 1120.00 earnings per share for the current fiscal year.

ITV declared that its Board of Directors has initiated a share repurchase program on Friday, July 31st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the broadcaster to buy shares of its stock through open market purchases. Share repurchase programs are typically a sign that the company’s board believes its stock is 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.