Interactive Brokers Q3 adjusted EPS misses expectations; dividend raised

Overview

• Automated global broker's Q3 revenue rose and beat analyst expectations

• Adjusted EPS for Q3 missed analyst expectations

• Company raised quarterly dividend to $0.15 per share

Outlook

• Company did not provide specific financial guidance for upcoming quarters or full year

Result Drivers

• NET INTEREST INCOME - Co said net interest income rose 19% due to higher average customer margin loans and customer credit balances

• TRADING ACTIVITY - Co said commission revenue grew 12% on increased futures trading volume and higher daily average revenue trades, while stock and options volumes declined

• OTHER FEES - Co said other fees and services rose 33%, mainly from higher risk exposure fees, payments for order flow, and market data fees

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment banking & brokerage services peer group is "buy"

• Wall Street's median 12-month price target for Interactive Brokers Group Inc is $106.80, about 26.9% above its October 14 closing price of $84.14

• The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 32 three months ago

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)