Zacks Investment Research upgraded shares of Interactive Brokers Group Inc. (NASDAQ:IBKR) from a sell rating to a hold rating in a research note published on Monday morning.
According to Zacks, “Interactive Brokers’ third-quarter 2016 earnings lagged the Zacks Consensus Estimate primarily due to lower revenues and increased expenses. Also, the company’s dependence on the Market Making segment for dividend payments remains a matter of concern, given the dismal performance of the same over the last several quarters. Further, increased dependence on IBG LLC is also an area of concern because if the latter fails to provide sufficient funds, Interactive Brokers’ financial condition may suffer significantly. Nonetheless, a low level of compensation expense and development of proprietary software continue contributing to the company’s growth. Also, geographic diversification helps the company experience revenue stability.”
Interactive Brokers Group (NASDAQ:IBKR) opened at 37.96 on Monday. Interactive Brokers Group has a 12 month low of $29.50 and a 12 month high of $44.85. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 26.02 and a beta of 0.97. The stock has a 50 day moving average of $35.46 and a 200 day moving average of $36.03.
Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.02. The company earned $345 million during the quarter, compared to the consensus estimate of $330.70 million. Interactive Brokers Group had a net margin of 6.26% and a return on equity of 1.72%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities analysts anticipate that Interactive Brokers Group will post $1.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Thursday, December 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. Interactive Brokers Group’s dividend payout ratio is currently 27.40%.
A number of hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Interactive Brokers Group by 31.7% in the third quarter. Bank of Montreal Can now owns 3,452 shares of the company’s stock valued at $121,000 after buying an additional 830 shares during the last quarter. Creative Planning increased its stake in Interactive Brokers Group by 106.3% in the third quarter. Creative Planning now owns 3,587 shares of the company’s stock valued at $127,000 after buying an additional 1,848 shares during the last quarter. Societe Generale acquired a new stake in Interactive Brokers Group during the second quarter valued at about $135,000. SG Americas Securities LLC acquired a new stake in Interactive Brokers Group during the second quarter valued at about $135,000. Finally, Tower Research Capital LLC TRC increased its stake in Interactive Brokers Group by 2,477.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the company’s stock valued at $162,000 after buying an additional 4,410 shares during the last quarter. 86.02% of the stock is owned by institutional investors and hedge funds.
Interactive Brokers Group Company Profile
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 100 electronic exchanges and trading venues around the world.
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