ITV (ITV)

Sector:

Media

Index:

FTSE 250

75.70p
   
  • Change Today:
    -0.30p
  • 52 Week High: 79.60p
  • 52 Week Low: 55.78p
  • Currency: UK Pounds
  • Shares Issued: 3,995.22m
  • Volume: 7,230,177
  • Market Cap: £3,024.38m
  • RiskGrade: 188

ITV set for FTSE 100 drop with B&M poised to join

By Sean Farrell

Date: Thursday 27 Aug 2020

LONDON (ShareCast) - (Sharecast News) - ITV is set to drop out of the FTSE index with B&M European Value Retail in prime position to replace the broadcaster and join the index of top shares for the first time.
With a market value of £2.5bn ITV is ranked at about 140 leaving it little chance of recovering before changes are decided on 1 September, AJ Bell research shows. The broadcaster has been demoted once before since it was formed in 2003 and has been a FTSE 100 member since 2011.

ITV's business has been hit by plunging advertising revenues as the Covid-19 crisis has aggravated existing pressures as ads move online and viewers switch to streaming services such as Netflix. The company's profit was almost wiped out in the first half and it paid no dividend.

Russ Mould, investment director at AJ Bell, said: "The Covid-19 pandemic limits ITV's ability to create and show new content and thus attract advertising, although the longer-term trend of competition from streaming services and rival broadcast technologies is a huge factor as well. This year's first-half figures made for grim reading."

Budget retailer B&M became a public company in 2014 and is the most likely candidate to replace ITV. Its shares have risen from 268p on 19 March to 482p as shoppers have sought out low prices in hard times. B&M reported a strong first quarter in early July.

British Land's position in the FTSE 100 also looks wobbly in the quarterly reshuffle with Direct Line the most likely replacement if the commercial property company leaves the index. Like ITV, British Land has been hit by the Covid-19 crisis, which has reduced retail property values and prompted fears about surplus office space as people work from home.

Mould said: "British Land is another firm where long-term trends (in this case the challenge posed to bricks-and-mortar retailers by online rivals) are being exacerbated by the pandemic and the economic fallout, with the possibility of reduced demand for office space a further complication."

If Direct Line returns to the FTSE 100 after a year's absence it will be one of eight companies in the index to have a female chief executive. Penny James, who took over as CEO last year, reported an increased dividend and solid first-half results in early August with minimal impact from Covid-19.

The FTSE 100 review is managed so that companies do not move in and out too often. To be relegated a company's market value must be below that of the top 10 companies beneath it and to gain promotion a FTSE 250 company's valuation must exceed that of the bottom 10 in the FTSE 100.





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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ITV Market Data

Currency UK Pounds
Share Price 75.70p
Change Today -0.30p
% Change -0.39 %
52 Week High 79.60p
52 Week Low 55.78p
Volume 7,230,177
Shares Issued 3,995.22m
Market Cap £3,024.38m
RiskGrade 188

ITV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.79% above the market average90.79% above the market average90.79% above the market average90.79% above the market average90.79% above the market average
91.11% above the sector average91.11% above the sector average91.11% above the sector average91.11% above the sector average91.11% above the sector average
Price Trend
62.25% above the market average62.25% above the market average62.25% above the market average62.25% above the market average62.25% above the market average
23.40% above the sector average23.40% above the sector average23.40% above the sector average23.40% above the sector average23.40% above the sector average
Income
90.42% above the market average90.42% above the market average90.42% above the market average90.42% above the market average90.42% above the market average
89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average
Growth
93.71% below the market average93.71% below the market average93.71% below the market average93.71% below the market average93.71% below the market average
86.05% below the sector average86.05% below the sector average86.05% below the sector average86.05% below the sector average86.05% below the sector average

What The Brokers Say

Strong Buy 3
Buy 2
Neutral 5
Sell 1
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ITV Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 19-Oct-23
Paid 23-May-24 28-Nov-23
Amount 3.30p 1.70p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 87,437 @ 75.70p
16:35 2,577,893 @ 75.70p
16:35 4,882 @ 75.70p
16:35 40,976 @ 75.70p
16:35 13,433 @ 75.70p

ITV Key Personnel

CEO Carolyn McCall

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