ITV (LON:ITV) Price Target Cut to GBX 110 by Analysts at Credit Suisse Group

ITV (LON:ITV) had its price target trimmed by Credit Suisse Group from GBX 170 ($2.24) to GBX 110 ($1.45) in a research note published on Tuesday, Stock Target Advisor reports. The brokerage currently has an outperform rating on the broadcaster’s stock.

ITV has been the subject of several other reports. Goldman Sachs Group reduced their price objective on ITV from GBX 147 ($1.93) to GBX 122 ($1.60) and set a neutral rating for the company in a research report on Tuesday, March 17th. Barclays reduced their price objective on ITV from GBX 120 ($1.58) to GBX 80 ($1.05) and set an equal weight rating for the company in a research report on Monday. Citigroup reaffirmed a buy rating on shares of ITV in a research report on Thursday, March 19th. Berenberg Bank reduced their price objective on ITV from GBX 125 ($1.64) to GBX 120 ($1.58) and set a hold rating for the company in a research report on Monday, March 9th. Finally, Deutsche Bank reduced their price objective on ITV from GBX 130 ($1.71) to GBX 120 ($1.58) and set a hold rating for the company in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of GBX 136.25 ($1.79).

Shares of ITV stock traded up GBX 5.72 ($0.08) on Tuesday, hitting GBX 65.72 ($0.86). 37,150,089 shares of the stock were exchanged, compared to its average volume of 19,490,000. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 131.44. The firm has a market capitalization of $2.42 billion and a P/E ratio of 5.57. The business has a 50-day moving average of GBX 109.45 and a 200 day moving average of GBX 130.49. ITV has a fifty-two week low of GBX 82.90 ($1.09) and a fifty-two week high of GBX 165.90 ($2.18).

The business also recently announced a dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, April 9th will be issued a dividend of GBX 5.40 ($0.07) per share. This represents a yield of 4.64%. The ex-dividend date of this dividend is Thursday, April 9th. This is a positive change from ITV’s previous dividend of $2.60. ITV’s dividend payout ratio is presently 0.68%.

In related news, insider Mary Harris bought 2,222 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average price of GBX 151 ($1.99) per share, for a total transaction of £3,355.22 ($4,413.60).

About ITV

ITV plc, an integrated producer broadcaster, creates, owns, and distributes content on various platforms worldwide. It operates through Broadcast & Online, and ITV Studios segments. The Broadcast & Online 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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Analyst Recommendations for ITV (LON:ITV)

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