Equities analysts forecast that Interactive Brokers Group, Inc. (NASDAQ:IBKR – Get Rating) will post $729.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Interactive Brokers Group’s earnings, with the highest sales estimate coming in at $739.00 million and the lowest estimate coming in at $719.20 million. Interactive Brokers Group posted sales of $754.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, 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 year, analysts expect that the company will report sales of $3.37 billion, with estimates ranging from $3.36 billion to $3.39 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Interactive Brokers Group.
Interactive Brokers Group (NASDAQ:IBKR – Get Rating) last released its earnings results on Tuesday, April 19th. The financial services provider reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. The firm had revenue of $645.00 million during 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%. Interactive Brokers Group’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS.
IBKR has been the subject of several recent research reports. Zacks Investment Research cut Interactive Brokers Group from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research note on Tuesday, April 5th. Bank of America lifted their price objective on Interactive Brokers Group from $111.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. The Goldman Sachs Group upgraded Interactive Brokers Group from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Tuesday, April 26th. Finally, StockNews.com upgraded Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $92.00.
In other Interactive Brokers Group news, Chairman Thomas Peterffy sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $66.55, for a total value of $1,331,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 560,000 shares of company stock valued at $35,217,400. 5.72% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in IBKR. Morgan Stanley grew its holdings in Interactive Brokers Group by 151.1% during the second quarter. Morgan Stanley now owns 409,013 shares of the financial services provider’s stock worth $26,885,000 after acquiring an additional 246,151 shares during the period. Principal Financial Group Inc. grew its holdings in Interactive Brokers Group by 7.2% during the third quarter. Principal Financial Group Inc. now owns 301,405 shares of the financial services provider’s stock worth $18,789,000 after acquiring an additional 20,288 shares during the period. BlackRock Inc. grew its holdings in Interactive Brokers Group by 3.4% during the third quarter. BlackRock Inc. now owns 7,554,979 shares of the financial services provider’s stock worth $470,976,000 after acquiring an additional 246,512 shares during the period. CIBC Asset Management Inc grew its holdings in Interactive Brokers Group by 9.3% during the third quarter. CIBC Asset Management Inc now owns 3,752 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 320 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Interactive Brokers Group by 35.3% during the third quarter. Teacher Retirement System of Texas now owns 13,159 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 3,432 shares during the period. 20.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of IBKR opened at $54.97 on Friday. The stock has a 50-day simple moving average of $62.38 and a 200-day simple moving average of $69.31. The stock has a market capitalization of $22.99 billion, a PE ratio of 19.36, a PEG ratio of 0.76 and a beta of 0.76. Interactive Brokers Group has a 1 year low of $52.18 and a 1 year high of $82.83.
The firm 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.73%. The ex-dividend date is Tuesday, May 31st. Interactive Brokers Group’s payout ratio 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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