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

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

Analysts Set New Price Targets

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

ITV Stock Performance

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 firm’s 50-day moving average is GBX 76.50 and its two-hundred day moving average is GBX 79.09. 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.

ITV Company Profile

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.