IG Group (LON:IGG) Hits New 1-Year High – Here’s Why

IG Group Holdings plc (LON:IGG)’s share price reached a new 52-week high on Friday . The company traded as high as GBX 1,477.05 and last traded at GBX 1,477.05, with a volume of 781388 shares. The stock had previously closed at GBX 1,460.

IG Group Stock Up 1.3%

The stock’s fifty day moving average is GBX 1,379.17 and its two-hundred day moving average is GBX 1,250.37. The company has a current ratio of 3.43, a quick ratio of 2.40 and a debt-to-equity ratio of 30.81. The firm has a market cap of £4.90 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of -1.44 and a beta of 0.48.

IG Group (LON:IGG) last posted its earnings results on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. As a group, research analysts anticipate that IG Group Holdings plc will post 104.0295119 earnings per share for the current year.

IG Group announced that its board has authorized a share buyback program on Wednesday, April 1st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

IG Group Company Profile

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.