ITV share price: where now after stock falls 30% over last 12 months
The British broadcaster has struggled over the last 12 months with its share price losing close to a third of its value, but its stock seems to have stabilised this summer as it looks to diversify its revenue streams.
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.
Practise trading ITV and other UK stocks with an IG demo account
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.
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
