Zacks Investment Research upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $83.00 price objective on the financial services provider’s stock.
According to Zacks, “Interactive Brokers’ shares have significantly outperformed the industry in the past six months. Further, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Its first-quarter 2018 results benefited from higher revenues and rise in DARTs. The company continues with its plans of streamlining operations and focusing on strengthening the Electronic Brokerage segment. While these along with the other restructuring efforts will aid profitability, high dependence on IBG remains a concern. This is because if IBG LLC fails to provide sufficient funds to pay taxes or for any other purpose, the company’s financial condition may suffer. Given a solid liquidity position, it is expected to continue enhancing shareholder value through consistent dividend payments.”
A number of other analysts also recently issued reports on the company. Sandler O’Neill reaffirmed a buy rating and issued a $82.00 target price on shares of Interactive Brokers Group in a research note on Wednesday, April 18th. Wells Fargo reaffirmed an underperform rating and issued a $60.00 target price (up from $52.00) on shares of Interactive Brokers Group in a research note on Wednesday, April 18th. SunTrust Banks raised their price objective on Interactive Brokers Group to $75.00 and gave the stock a hold rating in a research report on Wednesday, April 18th. Rosenblatt Securities set a $65.00 price objective on Interactive Brokers Group and gave the stock a buy rating in a research report on Friday, April 6th. Finally, TheStreet downgraded Interactive Brokers Group from a b rating to a c+ rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $66.71.
Shares of IBKR opened at $73.80 on Friday. Interactive Brokers Group has a 52-week low of $33.71 and a 52-week high of $75.26. The firm has a market capitalization of $30,384.05, a price-to-earnings ratio of 48.24, a P/E/G ratio of 1.18 and a beta of 0.98.
Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, April 17th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. Interactive Brokers Group had a return on equity of 2.04% and a net margin of 4.58%. The business had revenue of $527.00 million during the quarter, compared to the consensus estimate of $502.56 million. During the same period last year, the company earned $0.34 EPS. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. sell-side analysts anticipate that Interactive Brokers Group will post 2.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Friday, June 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, May 31st. Interactive Brokers Group’s payout ratio is 26.14%.
Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Interactive Brokers Group by 27.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 647 shares in the last quarter. Toronto Dominion Bank acquired a new position in Interactive Brokers Group in the 4th quarter valued at about $118,000. FNY Partners Fund LP acquired a new position in Interactive Brokers Group in the 4th quarter valued at about $177,000. LS Investment Advisors LLC grew its position in Interactive Brokers Group by 34.3% in the 4th quarter. LS Investment Advisors LLC now owns 3,300 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 843 shares in the last quarter. Finally, Advisor Partners LLC acquired a new position in Interactive Brokers Group in the 4th quarter valued at about $206,000. 15.91% of the stock is owned by hedge funds and other institutional investors.
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About Interactive Brokers Group
Interactive Brokers Group, Inc operates as an automated electronic broker in approximately 120 electronic exchanges and market centers worldwide. It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds. The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
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