Interactive Brokers Group (IBKR) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS
Interactive Brokers Group (NASDAQ:IBKR) announced its earnings results on Tuesday. The financial services provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07, Briefing.com reports. Interactive Brokers Group had a return on equity of 1.35% and a net margin of 5.29%. The business had revenue of $515.00 million during the quarter, compared to analysts’ expectations of $398.05 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 166.8% on a year-over-year basis.
Interactive Brokers Group (NASDAQ:IBKR) traded down $0.65 during trading hours on Wednesday, hitting $62.45. The company had a trading volume of 1,512,400 shares, compared to its average volume of 903,040. Interactive Brokers Group has a fifty-two week low of $33.01 and a fifty-two week high of $64.03. The firm has a market cap of $25,700.00, a price-to-earnings ratio of 53.84, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02.
Several research analysts recently weighed in on IBKR shares. SunTrust Banks raised their target price on Interactive Brokers Group to $48.00 and gave the company an “average” rating in a research note on Wednesday, October 18th. BidaskClub cut Interactive Brokers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 16th. Zacks Investment Research upgraded Interactive Brokers Group from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Tuesday, September 19th. Finally, Goldman Sachs Group lowered Interactive Brokers Group from a “neutral” rating to a “sell” rating and set a $59.00 price target for the company. in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $50.33.
In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 11,519 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $51.61, for a total transaction of $594,495.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Aj Frank sold 54,903 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $54.21, for a total value of $2,976,291.63. The disclosure for this sale can be found here. Insiders sold a total of 345,321 shares of company stock valued at $18,129,724 in the last quarter. 3.41% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Interactive Brokers Group stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 27.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,966 shares of the financial services provider’s stock after acquiring an additional 647 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Interactive Brokers Group were worth $111,000 at the end of the most recent quarter. 15.79% of the stock is currently owned by institutional investors and hedge funds.
Interactive Brokers Group Company Profile
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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