Interactive Brokers Group, Inc.
) crafted a new 52-week high, touching $21.69 in the second half
of the trading session on Nov 5. The closing price of this
automated electronic market maker and broker represents a solid
year-to-date return of 58.2%. The trading volume for the session
was 346,647 shares.
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Despite hitting its 52-week high, this Zacks Rank #2 (Buy) stock
has plenty of upside left, given its strong estimate revisions
over the last 30 days and expected long-term earnings growth of
Impressive third-quarter 2013 results - including a year over
year growth in earnings of 23.1% on better top line and lower
operating expenses - as well as a strong cash balance were
the primary growth drivers for Interactive Brokers.
On Oct 15, Interactive Brokers reported its third-quarter 2013
earnings of 32 cents per share, in line with the Zacks Consensus
Estimate. Moreover, this compared favorably with the year-ago
figure of 26 cents.
A year-over-year increase of 2.4% in net revenue, 11% decline in
non-interest expense and growth in assets were the tailwinds for
the quarter. Moreover, Electronic Brokerage segment
witnessed continued improvement. Market Making segment also
showed marginal improvement based on cost containment.
Further, Electronic Brokerage segment witnessed a rise in
brokerage metrics for Oct 2013. Total customer Daily Average
Revenue Trades (DARTs) improved 32% from Oct 2012, and 7% from
Sep 2013 to 510,000.
Estimate Revisions Show Potency
Over the last 30 days, 3 out of 4 estimates for 2013 have been
revised upward for Interactive Brokers, lifting the Zacks
Consensus Estimate by 6.6% to 81 cents per share.
Other investment brokers worth considering include
Evercore Partners Inc.
). All these stocks carry the same Zacks Rank as Interactive