ITV (LON:ITV) Reaches New 52-Week Low – Should You Sell?

ITV plc (LON:ITV) hit 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 changing hands. The stock had previously closed at GBX 66.25.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on ITV from GBX 85 to GBX 82 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 85 price objective on shares of ITV in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, ITV has a consensus rating of “Hold” and an average target price of GBX 83.50.

ITV Stock Performance

The company’s 50-day moving average price is GBX 69.94 and its two-hundred day moving average price is GBX 75.61. The company has a market cap of £2.44 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of -0.53 and a beta of 0.80. 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 released its earnings results on Friday, July 31st. The broadcaster reported GBX 2.20 EPS for the quarter. ITV had a net margin of 6.57% and a return on equity of 13.15%. As a group, equities analysts forecast that ITV plc will post 1120.00 earnings per share for the current year.

ITV declared that its board has initiated a stock buyback program on Friday, July 31st that allows the company to buy back 0 outstanding shares. This repurchase authorization allows the broadcaster to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

About ITV

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.