IG Group (LON:IGG) Issues Earnings Results

IG Group (LON:IGG – Get Free Report) announced its quarterly earnings data on Thursday. The company reported GBX 68.90 EPS for the quarter, Digital Look Earnings reports. IG Group had a net margin of 43.07% and a return on equity of 26.63%.

IG Group Stock Performance

Shares of LON:IGG traded up GBX 17 during trading on Thursday, reaching GBX 1,706. The stock had a trading volume of 733,420 shares, compared to its average volume of 6,699,536. IG Group has a 52 week low of GBX 1,016 and a 52 week high of GBX 1,956. The firm has a market capitalization of £5.64 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of -1.44 and a beta of 0.53. The company has a quick ratio of 2.40, a current ratio of 215.53 and a debt-to-equity ratio of 31.16. The stock has a fifty day simple moving average of GBX 1,823.43 and a two-hundred day simple moving average of GBX 1,561.45.

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IG Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 1st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on IGG. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research note on Wednesday, May 20th. Royal Bank Of Canada increased their price objective on IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on IG Group from GBX 1,650 to GBX 1,750 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, IG Group currently has a consensus rating of “Buy” and an average target price of GBX 1,288.

View Our Latest Analysis on IG Group

About IG Group

(Get Free Report)

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.

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