ITV (LON:ITV) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

ITV plc (LON:ITV) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 74.44 ($0.97) and traded as high as GBX 80.65 ($1.05). ITV shares last traded at GBX 80.40 ($1.05), with a volume of 11,454,330 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on ITV. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 115 ($1.50) target price on shares of ITV in a research report on Wednesday, March 12th. Citigroup restated a “buy” rating on shares of ITV in a research report on Thursday, December 5th.

ITV Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of 46.00. The company has a market cap of £3.10 billion, a PE ratio of 7.35, a P/E/G ratio of -0.53 and a beta of 1.44. The stock has a 50-day simple moving average of GBX 73.80 and a 200 day simple moving average of GBX 74.44.

ITV (LON:ITV) last posted its earnings results on Thursday, March 6th. The broadcaster reported GBX 9.60 ($0.12) EPS for the quarter. ITV had a return on equity of 23.62% and a net margin of 12.11%. Equities analysts expect that ITV plc will post 1120 EPS for the current year.

ITV Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, April 10th will be paid a dividend of GBX 3.30 ($0.04) per share. This represents a yield of 4.15%. The ex-dividend date is Thursday, April 10th. ITV’s payout ratio is 45.68%.

About ITV

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.