ITV (LON:ITV) Shares Down 0.1% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

ITV Price Performance

The firm has a market cap of £2.42 billion, a P/E ratio of 10.95, a P/E/G ratio of -0.53 and a beta of 0.79. The company has a fifty day moving average of GBX 67.28 and a 200-day moving average of GBX 75.63. The company has a debt-to-equity ratio of 52.95, a current ratio of 1.18 and a quick ratio of 0.83.

ITV declared that its board has initiated a share buyback program on Friday, July 31st that permits the company to buy back shares. This buyback authorization permits the broadcaster to purchase shares of its stock through open market purchases. Share buyback programs are usually a sign 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.