ITC Holdings Corp. Receives Consensus Rating of “Buy” from Brokerages (NYSE:ITC)
Shares of ITC Holdings Corp. (NYSE:ITC) have earned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Analyst Ratings Network.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $39.50.
Several analysts have recently commented on the stock. Analysts at Argus upgraded shares of ITC Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $42.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of ITC Holdings Corp. in a research note on Friday, June 20th. They now have a $38.50 price target on the stock, down previously from $41.00. Finally, analysts at Credit Suisse downgraded shares of ITC Holdings Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, June 20th. They now have a $34.50 price target on the stock, up previously from $31.33.
ITC Holdings Corp. (NYSE:ITC) opened at 35.87 on Monday. ITC Holdings Corp. has a 52-week low of $28.60 and a 52-week high of $38.43. The stock has a 50-day moving average of $36.37 and a 200-day moving average of $35.53. The company has a market cap of $5.602 billion and a P/E ratio of 22.66.
ITC Holdings Corp. (NYSE:ITC) last announced its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $258.60 million for the quarter, compared to the consensus estimate of $250.79 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts expect that ITC Holdings Corp. will post $1.88 EPS for the current fiscal year.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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