ITV share price continues to slide ahead of full-year results
The British broadcaster continues to see its share price tumble ahead of its full-year results on Thursday, with the stock down more than 60% since its August 2015 peak.
ITV continues to see its share price fall ahead of its full-year (FY) results on Thursday, with the stock down more than 60% since its peak in August 2015.
Despite a challenging backdrop, the British broadcaster said that it remains on track to deliver its full-year guidance in its third quarter trading update in November, with it confident that ITV Studios will record revenue growth of at least 5% at a 14%-16% margin.
However, the company continues to see revenues from advertising fall, with the broadcaster forecasting a 2% decline for the 2019 financial year.
ITV remains on track to deliver £20 million in savings in 2019, helping it to maintain a healthy balance sheet and offer aFY dividend of at least 8p per share. ITV plans to save between £55 million-£60 million over the four years to 2022.
In November, ITV sold its famous London headquarters, the London Television Centre, for £145.6 million, which may support its FY results on Thursday.
ITV closed at 116p a share on Wednesday, with the stock down 22% year-to-date (YTD).
Looking to trade ITV? Open a live or demo account with IG today.
ITV launches BritBox
ITV successfully launch BritBox, its online streaming service, with the company’s chief executive officer (CEO) Carolyn McCall saying that the broadcaster has received ‘positive feedback’ on the service so far.
On screen and online viewing have also performed well for ITV, with highlights including its coverage of the Rugby World Cup which saw a peak audience of 12.8 million during the final.
'We remain very focused on building a digitally led media and entertainment company to create a stronger, more diversified and structurally sound business,’ McCall said.
‘We have a solid balance sheet which enables us to make the right investment decisions and deliver returns to shareholders in line with our guidance of at least an 8p dividend for 2019.’
You can go long or short ITV with IG using derivatives like CFDs.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
