ITV (LON:ITV) Stock Price Down 9.1% – Time to Sell?

ITV plc (LON:ITV)’s stock price dropped 9.1% during mid-day trading on Wednesday . The stock traded as low as GBX 65.70 ($0.88) and last traded at GBX 67.75 ($0.91). Approximately 774,189,438 shares traded hands during mid-day trading, an increase of 3,379% from the average daily volume of 22,250,230 shares. The stock had previously closed at GBX 74.55 ($1.00).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price target on ITV from GBX 110 to GBX 112 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 112.

ITV Stock Down 8.4%

The company has a market capitalization of £2.55 billion, a PE ratio of 13.94, a P/E/G ratio of -0.53 and a beta of 1.44. The company has a debt-to-equity ratio of 46.00, a quick ratio of 0.83 and a current ratio of 1.56. The company’s 50-day moving average is GBX 79.70 and its 200 day moving average is GBX 79.17.

ITV (LON:ITV) last issued its earnings results on Thursday, July 24th. The broadcaster reported GBX 1.80 earnings per share (EPS) for the quarter. ITV had a net margin of 12.11% and a return on equity of 23.62%. As a group, analysts anticipate that ITV plc will post 1120 EPS for the current year.

ITV Company Profile

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment.

ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.