ITV (LON:ITV) Shares Up 15% – Here’s Why

ITV plc (LON:ITV) shares rose 15% during trading on Friday . The company traded as high as GBX 81.35 and last traded at GBX 77.88. Approximately 47,380,695 shares traded hands during trading, an increase of 152% from the average daily volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their target price on ITV from GBX 112 to GBX 105 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 105.

ITV Stock Performance

The firm has a fifty day simple moving average of GBX 76.50 and a 200-day simple moving average of GBX 79.09. The company has a current ratio of 1.56, a quick ratio of 0.83 and a debt-to-equity ratio of 46.00. The stock has a market cap of £2.91 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of -0.53 and a beta of 1.44.

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.