ITV share price: where now after stock falls 30% over last 12 months

Over the last 12 months, ITV has seen its share price fall by almost 30%, with the prospect of a no-deal eroding businesses willingness to spend, weakening demand for TV advertising and hurting the British broadcaster’s revenues.

ITV recorded a 7% decline in total external revenue to £1.48 billion in its half-year results, driven by a 5% slide in advertising sales. Meanwhile, adjusted EBITDA and earnings per share both fell 13% to £327 million and 6.2p a share respectively.

ITV shares find support

While its stock has lost close to a third of its value over the last 12 months of trading, since May its share price has finally found support, with it not dipping below 104p a share over the summer trading period.

Over the last five days, its stock has traded 5% higher sitting at 117p a share as of 15:25 GMT on Thursday, with the broadcaster looking likely perform better over the second half of the year.

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ITV on track to deliver full-year guidance

In its fourth quarter, ITV is set to launch its new streaming service BritBox in the UK, which could provide it with a lucrative new revenue stream if it is able to grab the attention of consumers in an increasingly competitive market. BritBox already has more than 650,000 subscribers in the US.

Over the remainder of the year, ITV plans to deliver £20 million in cost savings and remains on track to deliver double-digit online revenue growth.

ITV also remains committed to delivering its full-year dividend commitment of at least 8p a share.

However, economic and political uncertainty continues to impact demand for advertising, with total advertising forecast to be in a range of -1% to 1% in its third quarter (Q3). ITV will release its Q3 results in November 12.