(IBKR) Interactive Brokers Group – Bull of the Day

Interactive Brokers Group (IBKR) third-quarter earnings were double the Zacks Consensus Estimate. Improved top line and substantially higher net income attributable to non-controlling interests were among the positives. These were partly offset by higher interest and non-interest expenses.

Interactive’s fundamentals remain strong with a liquid balance sheet. Continued strong performance of its brokerage business and quarterly dividend restoring were impressive.

Our six-month target price of $18.00 per share equates to about 13.3x our earnings estimate for 2011. Combined with a quarterly dividend of $0.10 per share, this target price implies an expected total return of 21.7% over that period. This is consistent with our Outperform recommendation.

INTERACTIVE BRK (IBKR): Free Stock Analysis Report

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