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

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

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. reiterated an overweight rating on shares of ITV in a research report on Tuesday. Liberum Capital reiterated a buy rating on shares of ITV in a research report on Monday. Barclays cut 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. Shore Capital reiterated a hold rating on shares of ITV in a research report on Monday. Finally, Deutsche Bank cut 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of GBX 136.25 ($1.79).

ITV traded up GBX 5.72 ($0.08) during trading on Tuesday, hitting GBX 65.72 ($0.86). The company’s stock had a trading volume of 37,150,089 shares, compared to its average volume of 19,490,000. The firm’s 50 day moving average price is GBX 109.45 and its two-hundred day moving average price is GBX 130.49. The company has a quick ratio of 0.86, a current ratio of 1.14 and a debt-to-equity ratio of 131.44. ITV has a 12 month low of GBX 82.90 ($1.09) and a 12 month high of GBX 165.90 ($2.18). The stock has a market capitalization of $2.42 billion and a price-to-earnings ratio of 5.57.

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

In other news, insider Mary Harris bought 2,222 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was bought 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.

Featured Story: Elliott Wave Theory

Analyst Recommendations for ITV (LON:ITV)

Receive News & Ratings for ITV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITV and related companies with MarketBeat.com's FREE daily email newsletter.