ITC Holdings Corp.’s Equal Weight Rating Reiterated at Barclays (ITC)
ITC Holdings Corp. (NYSE:ITC)‘s stock had its “equal weight” rating reissued by equities research analysts at Barclays in a research note issued to investors on Thursday. They currently have a $40.00 price target on the stock. Barclays’ target price points to a potential upside of 6.67% from the stock’s previous close.
ITC has been the subject of a number of other recent research reports. Analysts at Leerink Swann initiated coverage on shares of ITC Holdings Corp. in a research note on Wednesday, August 13th. They set an “outperform” rating and a $34.00 price target on the stock. Separately, analysts at Argus upgraded shares of ITC Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 21st. They now have a $42.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.88.
ITC Holdings Corp. (NYSE:ITC) opened at 37.3375 on Thursday. ITC Holdings Corp. has a 52 week low of $28.7233 and a 52 week high of $38.43. The stock’s 50-day moving average is $36.21 and its 200-day moving average is $36.28. The company has a market cap of $5.841 billion and a P/E ratio of 22.85.
ITC Holdings Corp. (NYSE:ITC) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $263.20 million for the quarter, compared to the consensus estimate of $265.01 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts predict that ITC Holdings Corp. will post $1.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, August 28th. This is a positive change from ITC Holdings Corp.’s previous quarterly dividend of $0.14.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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