Zacks Research Comments on Interactive Brokers Group, Inc.’s Q3 2024 Earnings (NASDAQ:IBKR)

Interactive Brokers Group, Inc. (NASDAQ:IBKR) – Zacks Research issued their Q3 2024 earnings per share estimates for shares of Interactive Brokers Group in a research note issued to investors on Monday, October 14th. Zacks Research analyst R. Department expects that the financial services provider will earn $1.77 per share for the quarter. The consensus estimate for Interactive Brokers Group’s current full-year earnings is $6.92 per share. Zacks Research also issued estimates for Interactive Brokers Group’s FY2024 earnings at $6.85 EPS.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Interactive Brokers Group had a net margin of 7.88% and a return on equity of 4.88%. During the same quarter last year, the company earned $1.55 earnings per share.

IBKR has been the subject of a number of other reports. Piper Sandler reissued an “overweight” rating and set a $163.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday. UBS Group raised their target price on Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut Interactive Brokers Group from an “outperform” rating to a “market perform” rating and raised their target price for the company from $128.00 to $135.00 in a report on Thursday, July 11th. Jefferies Financial Group raised their target price on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Barclays lowered their target price on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

Interactive Brokers Group Price Performance

IBKR stock opened at $146.78 on Wednesday. The business has a 50 day simple moving average of $131.45 and a 200-day simple moving average of $123.90. The firm has a market capitalization of $61.81 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.80. Interactive Brokers Group has a 1 year low of $72.60 and a 1 year high of $154.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in shares of Interactive Brokers Group by 1,292.1% in the second quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock valued at $132,655,000 after buying an additional 1,004,289 shares in the last quarter. Marshall Wace LLP boosted its position in Interactive Brokers Group by 23.8% during the second quarter. Marshall Wace LLP now owns 2,507,059 shares of the financial services provider’s stock worth $307,365,000 after purchasing an additional 481,826 shares in the last quarter. Bares Capital Management Inc. boosted its position in Interactive Brokers Group by 10.4% during the first quarter. Bares Capital Management Inc. now owns 2,810,131 shares of the financial services provider’s stock worth $313,920,000 after purchasing an additional 264,543 shares in the last quarter. Scout Investments Inc. purchased a new stake in Interactive Brokers Group during the first quarter worth $18,335,000. Finally, Retirement Systems of Alabama boosted its position in Interactive Brokers Group by 98.1% during the first quarter. Retirement Systems of Alabama now owns 265,511 shares of the financial services provider’s stock worth $29,660,000 after purchasing an additional 131,481 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.