TP ICAP Group’s (TCAP) “Buy” Rating Reaffirmed at Shore Capital

Shore Capital reissued their buy rating on shares of TP ICAP Group (LON:TCAP) in a report published on Thursday morning, Marketbeat reports.

TP ICAP Group Price Performance

Shares of LON TCAP opened at GBX 269.50 ($3.49) on Thursday. The firm’s 50-day moving average is GBX 265.60 and its two-hundred day moving average is GBX 253.03. TP ICAP Group has a 12-month low of GBX 192 ($2.49) and a 12-month high of GBX 277.50 ($3.60). The company has a market capitalization of £2.03 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 0.49 and a beta of 0.65.

TP ICAP Group (LON:TCAP) last announced its earnings results on Wednesday, March 12th. The company reported GBX 31.80 ($0.41) EPS for the quarter. TP ICAP Group had a return on equity of 4.82% and a net margin of 4.54%. On average, analysts forecast that TP ICAP Group will post 31.0273973 EPS for the current fiscal year.

TP ICAP Group announced that its board has initiated a stock buyback program on Tuesday, March 11th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

TP ICAP Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 10th will be given a dividend of GBX 11.30 ($0.15) per share. This represents a yield of 4.28%. The ex-dividend date is Thursday, April 10th. This is a boost from TP ICAP Group’s previous dividend of $4.80. TP ICAP Group’s dividend payout ratio (DPR) is currently 116.48%.

About TP ICAP Group