Investment Technology Group (NYSE:ITG) announced that its board has approved a stock repurchase program, which authorizes the company to buyback 4,000,000 shares on Thursday, February 15th, EventVestor reports. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
Several research firms recently commented on ITG. Zacks Investment Research upgraded shares of Investment Technology Group from a “sell” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, January 25th. ValuEngine lowered shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company presently has a consensus rating of “Sell” and a consensus target price of $22.50.
Investment Technology Group (ITG) opened at $20.44 on Monday. The firm has a market cap of $675.77, a P/E ratio of -17.18 and a beta of 1.35. The company has a current ratio of 1.51, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. Investment Technology Group has a 52-week low of $17.63 and a 52-week high of $23.96.
Investment Technology Group (NYSE:ITG) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $125.70 million. Investment Technology Group had a negative net margin of 8.15% and a positive return on equity of 2.66%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. equities analysts expect that Investment Technology Group will post 1.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, February 26th. Investment Technology Group’s payout ratio is presently -23.53%.
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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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