ITC Holdings Corp. Given Consensus Recommendation of “Hold” by Brokerages (NYSE:ITC)
ITC Holdings Corp. (NYSE:ITC) has earned an average rating of “Hold” from the nine analysts that are presently covering the company, Stock Ratings News reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $38.88.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “equal weight” rating on shares of ITC Holdings Corp. in a research note on Thursday. They now have a $40.00 price target on the stock. Separately, 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. Finally, 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.
In other ITC Holdings Corp. news, COO Jon E. Jipping unloaded 29,898 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.50, for a total transaction of $1,121,175.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
ITC Holdings Corp. (NYSE:ITC) traded down 0.16% during mid-day trading on Friday, hitting $37.32. 37,382 shares of the company’s stock traded hands. ITC Holdings Corp. has a 1-year low of $28.7233 and a 1-year high of $38.43. The stock’s 50-day moving average is $36.25 and its 200-day moving average is $36.29. The company has a market cap of $5.838 billion and a P/E ratio of 22.89.
ITC Holdings Corp. (NYSE:ITC) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts expect that ITC Holdings Corp. will post $1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a dividend yield of 1.74%. The ex-dividend date 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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