Zacks: Brokerages Expect Investment Technology Group, Inc. (ITG) to Announce $0.19 EPS
Analysts predict that Investment Technology Group, Inc. (NYSE:ITG) will announce earnings of $0.19 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Investment Technology Group’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.17. Investment Technology Group posted earnings per share of ($0.02) in the same quarter last year, which indicates a positive year-over-year growth rate of 1,050%. The business is scheduled to announce its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Investment Technology Group will report full year earnings of $0.85 per share for the current year. For the next financial year, analysts expect that the business will report earnings of $1.46 per share, with EPS estimates ranging from $1.38 to $1.54. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Investment Technology Group.
Investment Technology Group (NYSE:ITG) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. Investment Technology Group had a positive return on equity of 1.73% and a negative net margin of 3.89%. The firm had revenue of $120.80 million during the quarter, compared to analyst estimates of $120.10 million. During the same period last year, the company posted $0.05 EPS. The business’s quarterly revenue was down 3.1% compared to the same quarter last year.
A number of brokerages have weighed in on ITG. Zacks Investment Research downgraded Investment Technology Group from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine raised Investment Technology Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
Shares of Investment Technology Group (NYSE:ITG) traded down 0.65% during midday trading on Friday, reaching $21.27. The company’s stock had a trading volume of 29,973 shares. The stock has a 50-day moving average of $20.77 and a 200 day moving average of $20.30. The company’s market cap is $705.02 million. Investment Technology Group has a 12 month low of $15.04 and a 12 month high of $22.42.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Tuesday, May 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, May 25th. Investment Technology Group’s dividend payout ratio is currently -50.00%.
Several hedge funds and other institutional investors have recently bought and sold shares of ITG. Norges Bank acquired a new position in Investment Technology Group during the fourth quarter valued at $11,625,000. FMR LLC raised its stake in shares of Investment Technology Group by 48.8% in the fourth quarter. FMR LLC now owns 888,780 shares of the financial services provider’s stock worth $17,545,000 after buying an additional 291,499 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Investment Technology Group by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 1,907,457 shares of the financial services provider’s stock worth $38,627,000 after buying an additional 287,596 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Investment Technology Group by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,832,279 shares of the financial services provider’s stock worth $57,353,000 after buying an additional 150,416 shares during the last quarter. Finally, River & Mercantile Asset Management LLP purchased a new stake in shares of Investment Technology Group during the fourth quarter worth approximately $2,824,000. 87.42% of the stock is owned by hedge funds and other institutional investors.
Investment Technology Group Company Profile
Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.
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