View the article online at http://citywire.co.uk/money/article/a662050
Expert View: ITV, Petrofac, Centrica, Carillion & Avingtrans
A roundup of analyst opinion on shares and company news.
Apologies for the different layout for Expert View today. Harry Brooks is away. Please click on the share tickers to see the company information and factsheets.
ITV impresses with special dividend
ITV (ITV.L) delighted investors with a £156 million special dividend after the commercial broadcaster increased full-year profits by 13% to £520 million and hiked adjusted earnings per share by 16% to 9.2p. Three years into its transformation plan, chief executive Adam Crozier said every department had grown and contributed to the bottom line.
Richard Curr, head of dealing at Prime Markets, said: 'While the rapid share price growth in some way reflects this progress, ITV is still very much work in progress, and along with most analysts, Prime Markets believes there is more to come. As such, the momentum from the impressive result and the ebitda [earnings before interest, tax, depreciation and amortisation] growth today should continue to drive the share price higher to our four-week price target of 130p. Buy.'
ITV shares fell 1% of 1.25p to 119p after Crozier dampened takeover speculation in the wake of Liberty Global's bid for Virgin Media. He said ITV had not been approached.
Next: Petrofac punished for vagueness
News sponsored by:
After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news
More about this:
Look up the shares
- ITV PLC (ITV.L)
- Centrica PLC (CNA.L)
- Avingtrans PLC (AVG.L)
- Carillion PLC (CLLN.L)
- Petrofac Ltd (PFC.L)
Tools from Citywire Money
From the ForumsForums are temporarily down for maintenance.
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.