Zacks: Brokerages Anticipate Interactive Brokers Group, Inc. (NASDAQ:IBKR) Will Post Quarterly Sales of $728.35 Million
Brokerages predict that Interactive Brokers Group, Inc. (NASDAQ:IBKR – Get Rating) will report sales of $728.35 million for the current quarter, Zacks reports. Two analysts have made estimates for Interactive Brokers Group’s earnings. The highest sales estimate is $739.00 million and the lowest is $717.70 million. Interactive Brokers Group reported sales of $754.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.4%. The company is scheduled to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Interactive Brokers Group will report full-year sales of $2.95 billion for the current fiscal year, with estimates ranging from $2.92 billion to $2.98 billion. For the next financial year, analysts forecast that the firm will report sales of $3.37 billion, with estimates ranging from $3.36 billion to $3.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Interactive Brokers Group.
Interactive Brokers Group (NASDAQ:IBKR – Get Rating) last released its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $703.34 million. Interactive Brokers Group had a return on equity of 3.09% and a net margin of 10.32%. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share.
Several research analysts have commented on IBKR shares. StockNews.com downgraded Interactive Brokers Group from a “hold” rating to a “sell” rating in a report on Thursday, May 26th. Zacks Investment Research cut Interactive Brokers Group from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Tuesday, April 5th. The Goldman Sachs Group raised Interactive Brokers Group from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Tuesday, April 26th. Bank of America increased their target price on Interactive Brokers Group from $111.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. Finally, Compass Point dropped their target price on Interactive Brokers Group to $85.00 in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.60.
In related news, Chairman Thomas Peterffy sold 20,000 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $52.95, for a total value of $1,059,000.00. Following the completion of the transaction, the chairman now owns 2,707,511 shares in the company, valued at approximately $143,362,707.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 540,000 shares of company stock valued at $33,577,000 in the last 90 days. 5.72% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Interactive Brokers Group by 1.5% during the 4th quarter. JPMorgan Chase & Co. now owns 120,354 shares of the financial services provider’s stock valued at $9,559,000 after buying an additional 1,832 shares during the last quarter. FDx Advisors Inc. increased its stake in shares of Interactive Brokers Group by 7.8% in the 4th quarter. FDx Advisors Inc. now owns 17,679 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 1,275 shares in the last quarter. Bridgefront Capital LLC purchased a new position in shares of Interactive Brokers Group in the 4th quarter valued at about $279,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Interactive Brokers Group in the 4th quarter valued at about $32,745,000. Finally, Stonnington Group LLC purchased a new position in shares of Interactive Brokers Group in the 4th quarter valued at about $5,419,000. Institutional investors and hedge funds own 20.49% of the company’s stock.
IBKR opened at $57.85 on Friday. The stock’s fifty day moving average is $60.34 and its two-hundred day moving average is $67.64. The company has a market capitalization of $24.19 billion, a P/E ratio of 20.37, a PEG ratio of 0.84 and a beta of 0.76. Interactive Brokers Group has a 52 week low of $52.18 and a 52 week high of $82.83.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Wednesday, June 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. Interactive Brokers Group’s dividend payout ratio (DPR) is 14.08%.
About Interactive Brokers Group (Get Rating)
Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company specializes in executing, clearing, and settling trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), metals, and cryptocurrencies. It also custodies and services accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
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