Interactive Brokers Group (IBKR) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $73.00 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. The company continues with its plans of streamlining operations and focusing on strengthening the Electronic Brokerage segment, which, along with the other restructuring efforts will aid profitability. Also, given a solid liquidity position, the company is expected to continue enhancing shareholder value through consistent dividend payments. However, high dependence on IBG remains a concern because if IBG LLC fails to provide sufficient funds to pay taxes or for any other purpose, the company’s financial condition may suffer.”

A number of other research firms have also weighed in on IBKR. Gabelli reissued a buy rating on shares of Interactive Brokers Group in a research report on Tuesday, April 3rd. TheStreet lowered shares of Interactive Brokers Group from a b rating to a c+ rating in a research report on Monday, April 2nd. Rosenblatt Securities set a $65.00 target price on shares of Interactive Brokers Group and gave the stock a buy rating in a research report on Friday, April 6th. SunTrust Banks boosted their target price on shares of Interactive Brokers Group to $75.00 and gave the stock a hold rating in a research report on Wednesday, April 18th. Finally, Wells Fargo & Co reissued an underperform rating and set a $60.00 target price (up previously from $52.00) on shares of Interactive Brokers Group in a research report on Wednesday, April 18th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $70.43.

IBKR stock opened at $63.37 on Wednesday. Interactive Brokers Group has a 1 year low of $36.23 and a 1 year high of $80.32. The firm has a market capitalization of $26.09 billion, a P/E ratio of 41.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, April 17th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. Interactive Brokers Group had a net margin of 4.58% and a return on equity of 2.04%. The business had revenue of $527.00 million during the quarter, compared to analyst estimates of $502.56 million. During the same quarter in the previous year, the business earned $0.34 EPS. Interactive Brokers Group’s quarterly revenue was up 40.9% compared to the same quarter last year. research analysts forecast that Interactive Brokers Group will post 2.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Friday, June 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, May 31st. Interactive Brokers Group’s dividend payout ratio is 26.14%.

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Interactive Brokers Group by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 595,111 shares of the financial services provider’s stock worth $35,236,000 after purchasing an additional 11,348 shares during the period. Swiss National Bank increased its holdings in shares of Interactive Brokers Group by 2.2% during the 1st quarter. Swiss National Bank now owns 118,200 shares of the financial services provider’s stock worth $7,948,000 after purchasing an additional 2,500 shares during the period. California Public Employees Retirement System increased its holdings in shares of Interactive Brokers Group by 10.4% during the 4th quarter. California Public Employees Retirement System now owns 106,522 shares of the financial services provider’s stock worth $6,307,000 after purchasing an additional 10,019 shares during the period. American International Group Inc. increased its holdings in shares of Interactive Brokers Group by 16.8% during the 4th quarter. American International Group Inc. now owns 10,131 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 1,454 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of Interactive Brokers Group by 882.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 20,411 shares of the financial services provider’s stock worth $1,209,000 after purchasing an additional 18,333 shares during the period. Institutional investors own 15.09% of the company’s stock.

Interactive Brokers Group Company Profile

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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Analyst Recommendations for Interactive Brokers Group (NASDAQ:IBKR)

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