ITV (LON:ITV) Hits New 1-Year Low on Analyst Downgrade

ITV plc (LON:ITVGet Rating)’s share price reached a new 52-week low on Thursday after Barclays lowered their price target on the stock from GBX 95 to GBX 85. Barclays currently has an equal weight rating on the stock. ITV traded as low as GBX 66.38 ($0.82) and last traded at GBX 66.98 ($0.83), with a volume of 1878098 shares changing hands. The stock had previously closed at GBX 68.62 ($0.85).

ITV has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft downgraded shares of ITV to a “hold” rating and dropped their price target for the stock from GBX 130 ($1.60) to GBX 100 ($1.23) in a research note on Wednesday, March 9th. Berenberg Bank cut shares of ITV to a “sell” rating and decreased their price objective for the stock from GBX 128 ($1.58) to GBX 64 ($0.79) in a research report on Thursday, April 14th. Morgan Stanley reaffirmed an “equal weight” rating on shares of ITV in a research report on Tuesday, April 26th. Exane BNP Paribas cut shares of ITV from an “outperform” rating to a “neutral” rating and set a GBX 93 ($1.15) price objective for the company. in a research report on Tuesday, March 22nd. Finally, Shore Capital reaffirmed a “buy” rating on shares of ITV in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, ITV currently has an average rating of “Hold” and an average price target of GBX 113.67 ($1.40).

In other ITV news, insider Edward Carter bought 50,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was acquired at an average price of GBX 75 ($0.92) per share, for a total transaction of £37,500 ($46,233.51). Also, insider Anna Manz bought 12,226 shares of the firm’s stock in a transaction dated Thursday, March 10th. The shares were acquired at an average price of GBX 81 ($1.00) per share, with a total value of £9,903.06 ($12,209.42). Over the last three months, insiders purchased 176,314 shares of company stock valued at $14,980,023.

The company has a debt-to-equity ratio of 75.76, a current ratio of 1.34 and a quick ratio of 1.10. The stock has a market cap of £2.80 billion and a price-to-earnings ratio of 7.48. The stock’s 50-day moving average is GBX 78.07 and its 200 day moving average is GBX 100.53.

The company also recently disclosed a dividend, which will be paid on Thursday, May 26th. Investors of record on Thursday, April 14th will be given a GBX 3.30 ($0.04) dividend. The ex-dividend date of this dividend is Thursday, April 14th. This represents a yield of 2.98%.

ITV Company Profile (LON:ITV)

ITV plc, an integrated producer broadcaster, creates, owns, and distributes content on various platforms worldwide. It operates through Media & Entertainment, and ITV Studios segments. The Media & Entertainment segment broadcasts various contents on its family of free-to-air channels, including ITV, ITV2, ITV3, ITV4, ITVBe, ITV Encore, CITV, ITV Breakfast, CITV Breakfast, and various related +1 and HD equivalents; and offers television advertising services.

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