ITV (LON:ITV) Trading 15% Higher – Here’s Why

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

Analyst Ratings Changes

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

ITV Stock Up 15.0%

The stock has a market cap of £2.91 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of -0.53 and a beta of 1.44. The company has a debt-to-equity ratio of 46.00, a current ratio of 1.56 and a quick ratio of 0.83. The firm’s 50-day moving average is GBX 76.50 and its 200 day moving average is GBX 79.09.

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.