Morgan Stanley Reiterates Overweight Rating for ITV (LON:ITV)

ITV (LON:ITV)‘s stock had its “overweight” rating restated by stock analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, February 21st. They presently have a GBX 230 ($3.18) price target on the broadcaster’s stock. Morgan Stanley’s price objective points to a potential upside of 50.13% from the stock’s previous close.

ITV has been the topic of a number of other research reports. Citigroup reaffirmed a “buy” rating on shares of ITV in a report on Monday, November 13th. Liberum Capital reissued a “buy” rating and issued a GBX 330 ($4.56) price target on shares of ITV in a report on Monday, January 8th. Shore Capital reissued a “buy” rating on shares of ITV in a report on Tuesday, November 7th. Kepler Capital Markets reissued a “hold” rating and issued a GBX 175 ($2.42) price target on shares of ITV in a report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. raised shares of ITV to an “overweight” rating and decreased their price target for the stock from GBX 204 ($2.82) to GBX 185 ($2.56) in a report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 192.93 ($2.67).

ITV (LON ITV) traded down GBX 0.65 ($0.01) during trading hours on Wednesday, hitting GBX 153.20 ($2.12). 19,069,511 shares of the stock traded hands, compared to its average volume of 19,430,000. ITV has a one year low of GBX 142.80 ($1.97) and a one year high of GBX 221.76 ($3.06). The company has a market capitalization of $6,170.00 and a P/E ratio of 1,532.00.

ITV (LON:ITV) last released its earnings results on Wednesday, February 28th. The broadcaster reported GBX 16 ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of GBX 15.70 ($0.22) by GBX 0.30 ($0.00). ITV had a net margin of 12.37% and a return on equity of 73.04%. The firm had revenue of GBX 313.20 billion for the quarter.

In other news, insider Mary Harris acquired 2,013 shares of ITV stock in a transaction on Tuesday, January 2nd. The stock was acquired at an average cost of GBX 167 ($2.31) per share, for a total transaction of £3,361.71 ($4,644.53). Also, insider Carolyn McCall acquired 96,583 shares of ITV stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of GBX 154 ($2.13) per share, with a total value of £148,737.82 ($205,495.74). Over the last ninety days, insiders bought 100,546 shares of company stock valued at $15,529,753.

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ITV Company Profile

ITV plc (ITV) is an integrated producer broadcaster. The Company creates, owns and distributes content on multiple platforms. It operates through two segments: Broadcast & Online and ITV Studios. The Broadcast & Online segment operates the commercial family of channels in the United Kingdom and delivers content through television broadcasting.

Analyst Recommendations for ITV (LON:ITV)

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