NEW YORK (TheStreet) -- Interactive Brokers Group (IBKR) surged to a three-month high on Wednesday, one day after the online discount brokerage firm beat analysts' expectations for its first-quarter report.
The company reported earnings of 34 cents a share, which surpassed the consensus estimate of 29 cents a share. Revenue soared 61.2% year over year to $369.2 million. Analysts surveyed by Thomson Reuters expected revenue of $314.8 million.
Interactive Brokers also announced a quarterly dividend of 10 cents a share payable on June 13 to all shareholders of record as of May 30.
The stock hit a high of $24.44 for the day as of 2:15 p.m. More than 1.4 million shares had changed hands, more than double the average volume of 538,021.
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Separately, TheStreet Ratings team rates INTERACTIVE BROKERS GROUP as a "hold" with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTERACTIVE BROKERS GROUP (IBKR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."