ITV (LON:ITV) Sets New 1-Year Low – Should You Sell?

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

Analyst Upgrades and Downgrades

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

ITV Trading Up 0.7%

The firm has a market capitalization of £2.46 billion, a P/E ratio of 10.99, a PEG ratio of -0.53 and a beta of 0.80. The business’s 50 day moving average is GBX 70.24 and its two-hundred day moving average is GBX 75.76. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 52.95.

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

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