ITV (LON:ITV) Share Price Breaks Below 200-Day Moving Average – Here’s Why

Shares of ITV plc (LON:ITV) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 76.03 and traded as low as GBX 66.15. ITV shares last traded at GBX 66.40, with a volume of 7,083,741 shares.

Analysts Set New Price Targets

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

ITV Price Performance

The business’s 50 day moving average is GBX 70.61 and its two-hundred day moving average is GBX 75.93. The company has a debt-to-equity ratio of 52.95, a quick ratio of 0.83 and a current ratio of 1.18. The firm has a market capitalization of £2.41 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of -0.53 and a beta of 0.80.

ITV (LON:ITV) last posted its earnings results on Friday, July 31st. The broadcaster reported GBX 2.20 earnings per share (EPS) for the quarter. ITV had a return on equity of 13.15% and a net margin of 6.57%. Equities research analysts anticipate that ITV plc will post 1120 earnings per share for the current fiscal year.

ITV announced that its board has initiated a share repurchase plan on Friday, July 31st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the broadcaster to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is 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.