Intermediate Capital Group (LON:ICG) Shares Up 1.9% – Should You Buy?

Intermediate Capital Group plc (LON:ICG) shares shot up 1.9% on Wednesday . The stock traded as high as GBX 2,210 ($28.08) and last traded at GBX 2,200 ($27.95). 4,498,682 shares changed hands during mid-day trading, an increase of 178% from the average session volume of 1,616,025 shares. The stock had previously closed at GBX 2,160 ($27.45).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank began coverage on shares of Intermediate Capital Group in a research report on Wednesday, October 23rd. They issued a “buy” rating and a GBX 2,600 ($33.04) price target for the company.

Intermediate Capital Group Trading Up 1.9 %

The firm’s 50-day moving average price is GBX 2,126.50 and its two-hundred day moving average price is GBX 2,168.76. The stock has a market cap of £6.39 billion, a PE ratio of 1,375.00 and a beta of 1.97.

Intermediate Capital Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 5th will be given a dividend of GBX 26.30 ($0.33) per share. The ex-dividend date is Thursday, December 5th. This represents a yield of 1.17%. Intermediate Capital Group’s payout ratio is 4,937.50%.

About Intermediate Capital Group

We are a provider of integrated solutions consisting of high-performance computing ASIC chips and ancillary software and hardware for blockchain applications. We utilize a fabless business model and specialize in the front-end and back-end of IC design, which are the major components of the IC product development chain.