Interactive Brokers Group (IBKR) Raised to Hold at Zacks Investment Research
According to Zacks, “Shares of Interactive Brokers have outperformed the industry over the past six months. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Its first-quarter 2019 results benefited from rise in revenues, while lower daily average revenue trades (DARTs) and increase in expenses were headwinds. Low level of compensation expenses, development of proprietary software and rise in emerging market customers continue to support its profitability. Further, the company’s steady capital deployments and no debt indicate a strong balance sheet position. However, the company’s high dependence on IBG remains a major concern. Also, mounting non-interest expenses will likely hamper bottom-line growth to some extent.”
Separately, Wells Fargo & Co reaffirmed a sell rating on shares of Interactive Brokers Group in a research report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Interactive Brokers Group presently has an average rating of Hold and a consensus price target of $64.40.
Interactive Brokers Group (IEX:IBKR) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The business had revenue of $492.00 million during the quarter, compared to the consensus estimate of $512.00 million. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, May 30th.
Institutional investors have recently bought and sold shares of the company. JOYN Advisors Inc. grew its stake in shares of Interactive Brokers Group by 86.7% during the fourth quarter. JOYN Advisors Inc. now owns 618 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 287 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of Interactive Brokers Group during the fourth quarter worth $64,000. Quantamental Technologies LLC acquired a new position in shares of Interactive Brokers Group during the fourth quarter worth $100,000. ETF Managers Group LLC grew its stake in shares of Interactive Brokers Group by 18.9% during the fourth quarter. ETF Managers Group LLC now owns 1,975 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 314 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Interactive Brokers Group by 33.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 500 shares in the last quarter. 14.79% of the stock is currently owned by institutional investors and hedge funds.
Interactive Brokers Group Company Profile
Interactive Brokers Group, Inc operates as an automated electronic broker in approximately 120 electronic exchanges and market centers worldwide. It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds. The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
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