ITV (LON:ITV) Stock Falls 0.1% – Time to Sell?

ITV plc (LON:ITV)’s share price dropped 0.1% on Tuesday. The stock traded as low as GBX 66.60 and last traded at GBX 66.80. Approximately 4,559,054 shares were traded during trading, a decline of 86% from the average session volume of 33,675,508 shares. The stock had previously closed at GBX 66.90.

Wall Street Analyst Weigh In

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

ITV Stock Performance

The company has a 50-day simple moving average of GBX 67.28 and a two-hundred day simple moving average of GBX 75.63. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 52.95. The firm has a market cap of £2.42 billion, a PE ratio of 10.95, a PEG ratio of -0.53 and a beta of 0.79.

ITV announced that its Board of Directors has initiated a stock repurchase plan on Friday, July 31st that allows the company to repurchase shares. This buyback authorization allows the broadcaster to buy shares of its stock through open market purchases. Share buyback plans are usually an indication that the company’s board 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.